32 



Early New York Paper Currency. 



ject was brought before it. Some dissatisfaction arose as 

 to the large proportion required of Xew York, but in a 

 few days 1 an act was passed to raise a force of 600 men 

 in connection with 360 from Connecticut, 360 from the 

 Jerseys, and 240 from Pennsylvania. A new issue of 

 bills of credit was ordered to the amount of 25,000 ounces 

 of plate, or <£10,000, to defray the expense. They were to 

 be current not longer than eight years. Every collector 

 of taxes was required to indorse on the bill the date of 

 payment, after which time the bill so endorsed was no 

 longer current. 



Owing to bad management, and the wreck of a number 

 of vessels, failure ensued, the troops returning home 

 without even an encounter. 



The state of affairs in Xew York at this time, was by 

 no means harmonious. Discouraged by recent disasters, 

 the ill feeling between the governor, council, and assem- 

 bly, manifested itself on several occasions. The province 

 was largely indebted to individuals for money and effects, 

 advanced for the service of the army. Provision had been 

 made by former governors for the payment of a great 

 part of these claims, out of the funds which had been 

 from time to time raised for the support of government. 

 Warrants had been signed and issued, but the sums hav- 

 ing been misapplied, the debts remained upou the col- 

 ony : the government credit was low, and the inhabitants 

 quite discouraged. 



In order to relieve difficulties, which were daily becom- 

 ing more complicated, an act was passed in 1712, under 

 which commissioners were appointed to examine and state 

 the several debts claimed to be due from the government. 

 In order to discharge the debts thus ascertained, another 

 act was passed in 1713, laying an excise on all strong 

 liquors retailed in the colony. It was to continue in force 

 from 1714 to 1734, and the money arising thereby, appro- 

 priated to discharge the public debts, as subsequently 



1 July 26, 1711. 



