290 AUTHENTIC HISTOEY 



William Henry to President Reed^ 1781. 



Lancaster, May tlie 26th, 178L 



Dear Sir : It is paying me a greater Compliment than my poor abili- 

 ties have any Claim to, to ask my opinion on the present intricate state 

 of our affairs. I will however give it without further apology. The 

 principal Eeasons why our paper Money is in so little Eepute with the 

 people seems to be the following: Government has not Specie to circu- 

 late with the Paper, nor can they at any Time exchange a considerable 

 part of it for Specie. The natural Basis of all paper Credit is Specie, 

 and the value we put on paper is in proportion to the Quantity of Specie 

 it will purchase. Therefore some Method should be taken to procure at 

 least part of the Revenue in Specie; this is not impracticable. Why 

 cannot Tavern Licences, Marriage Licences, and Licences for distilling 

 Grain be paid in Specie. The petitioner has one whole Year to provide 

 the Money and his private Interest will stimulate him to it. It is true 

 as the Laws now stand no Man is obliged to take a Licence for Distilling 

 Grain, but would it not be good policy to enact such a Law and thereby 

 oblige the owners of Stills above a certain Size, to have them registered 

 in the Counties where they live? This would enable Government to form 

 an Estimation of the Amount of this part of the Revenue, which I am 

 persuaded they cannot at present. Under the late Government the Excise 

 on Spirituous Liquors was said to be worth £6000 per Annum. If Li- 

 cences aforesaid were raised 50 per cent, this would bring in a handsome 

 Revenue without distressing the Subjects and would be attended with 

 good Consequences to the people at large in preventing a number of 

 Dram Shops being kept, which at present are a Nuisance, and would be 

 ample Security to any Gentleman at home or abroad for the payment of 

 a sum of Money to answer the present Exigencies of Government. 

 Might not all Fines and Forfeitures in Courts of Justice be paid in Specie ; 

 and the Duties on foreign Imports might be paid in Specie, or Merchan- 

 dize suitable for the Support of the Army. 



The Government have put paper into the hands of people and ought 

 to -receive it from them again in Taxes, though not at a depreciated value. 

 To prevent this, the Taxes ought to be laid in Specie made payable in 

 Wheat at a certain value in proportion to the Distance from the Market, 

 or the value in paper to be ascertained by Council weekly ; and to prevent 

 Fraud in Collectors, &c., they ought to give printed Receipts to the people 

 and deliver in to the Commissioners of the Tax an Account of all Monies 

 by them received and the Time when, which would enable the Commis- 

 sioners often to detect the Collectors, and the same Method would be of 

 use in Collecting Militia Fines and prevent numerous abuses which have 

 happened. Collectors of Taxes and Militia Monies ought to be punisha- 

 ble by Fine or Imprisonment, or both, for extorting more Money from the 



