1823.] 
not, without payment, perform theit du-- 
ties, but must have gone to gaol for 
debts they had contracted to enable them 
to live.’ To so low an ebb was the 
public treasury reduced, that some of the 
members of the board of war declared to 
Mr. Morris, they had not the means of 
sending an express to the army.* The 
pressing distress for provision among the 
troops at the time has already been. 
mentioned. ‘The paper bills oi credit 
were sunk so. low in value, as'to require 
a burtheusome mass-of: them to pay for 
an article of clothing. But the face of 
things was soon changed. One of the 
first good effects perceived, was the ap- 
preciationt of the paper money ; “ this 
was raised from the low state of six for 
one, to that of two for one, and it would 
have been brought neazy if net entirely 
to par, had not some measures inter- 
vened, which, though well meant, were 
not jndicious.” The plan he adopted 
was, ‘‘to make all his negotiations 
by selling bills of exchange for paper 
money, and afterwards paying it at a 
smaller rate of depreciation than that by 
which it was received ; and at each suc- 
eessive operation the rate was lowered, 
hy accepting it on the same terms for 
new bills of exchange, at which it had 
been previously paid. It wasnever ap- 
plied to the purchase of specific sup- 
plies, because it had been checked in 
the progress towards par; and therefore, 
# it had been paid out in any quantity 
fromthe treasury, those who received it 
would have suffered by the consequent 
depreciation. 
A slight refleetion will show the ardu- 
ous nature of the duties which he under- 
took to discharge. 
En old organized governments, where 
a regular routine of the department has 
been long established, and the details, as 
it were, brought to perfection, by gra- 
dual improvement, derived from the ex- 
pericnce and talents of successive offi- 
cers, little difliculty is experienced by 
the new incumbent in continuing the 
customary train of operations. Simple 
honesty, attention to duty, and a careful 
progress in the path previously pointed 
out, are all the requisites ; butthe state of 
public affairs, and especially in the fiscal 
department of the United States at the 
time alluded to, furnished none of these 
helps. Every thing was in the greatest 
* Debates on the renewal of the charter 
of the Bank of North America, p. 47. 
t This word appears to have keen 
coined during the revolution, and used: as 
the opposite of depreciation, 
Memoirs of the Life of Robert Morris. 
I3F 
confusion ; and a new system of accounts: 
was not only required to be deviscd, 
but the means of supplying the nu- 
merous and pressing wants of the public 
service to be discovered; and ‘attention 
paid to those wants. The task would’ 
have appalled any common man; byt 
the natsral talents of Mr. Morris, to— 
gether with his experience and habits of 
despatch, derived from his extensive 
commercial concerns for a long scries of 
years, and an uncommon readiness, 
great assiduity and method in business,, 
with decision of character, enabled bina 
to surmount all the difficulties that lay 
in his way. An inspection of the official’ 
statement of his accounts, will at once- 
show the serious nature of the multifari- 
ous duties attached to the office, and the 
pressure of his engagements; but an op- 
portunity of so doing, even if wished for, 
ean be had by few. Some idea may be 
fermed of them, when it is known, that 
he was required “ to examine into the 
state of the public’ debts, expenditures, 
and revenue; to digest and report plans 
for improving and regulating the finances, 
and for establishing order and economy. 
in the expenditure of public money.” 
To him was likewise committed ‘the dis- 
position, management, and disbursement: 
of all the loans received from the govern— 
ment of France, and various private per- 
sons in that country and Hoiland; the 
sums of money received from the differ- 
ent states ; and of the public funds for 
every possible source of expense for the 
support of government, civil, military, 
and naval; the procaring supplics of 
every description lor the army and navy ;, 
the entire management and direction of 
the prblic ships of war; the payment of 
all foreign debts; and the correspond- 
ence with our ministers at Europcar 
courts, on subjects of finance, In short 
the whole burtlen of the money opera- 
tions of government was Jaid upeu him. 
No man ever had more numerous con- 
- cerns conmnitted to his charge, and few» 
to a greater amount; and never did any 
one more faithfully discharge the various: 
complicated trusts with greater des- 
pateh, economy, or credit, than the sub- 
ject of this sketch. The details of his 
management of the office of finance may 
be seen in the volume which he pub- 
lished in the year 1785.* It is well 
worth the inspection of every American. 
* A Statement of the Accounts of the 
United States of America during the ad- 
ministration of the superintendant of 
finance, commencing February 1781, 
ending November 1784, 
The 
