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A SCHEME FOR A Paper Currency, FOR THE BENEFIT OF THE PROVINCE.

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TO THE Gentlemen and Inhabitants OF THE Massachusetts-Bay in New-England: Especially to such as are Lovers and Encouragers of Ju­stice and Ingenuity, and Haters of Cruelty and Op­pression.

Gentlemen,

I Humbly make bold to lay before you a small SCHEME; which I don't Doubt your complying with: For as there is now an absolute Necesssity for coming into a Paper Scheme for immediate Relief: And as the Merchants in London, that Trade to these Parts, have long since made Interest, before the Lords of Trade, for them to Desire his Majesty not to suffer any more Paper Money to be made by Royal Authority. The Arguments laid before his Majesty appear'd so reasona­ble and just, that without superiour Argu­ments can be laid before his Majesty, his Royal Instructions will stand firm; and not any ways to be evaded by his Majesty's Go­vernors: Therefore as it may be mathemati­cally proved, that a Society can make better [Page ii] Money than the Government, it's meer Trifling for the Gentlemen of the Assembly to draw Money Bills, when they absolutely know that his Excellency hath not Power to sign them. And the whole Body of the Gentlemen of this most noble Province must lay by that grand Idol, Self and Self-Conceit; and all Unite as one Man, and directly pursue just & reasonable Schemes; and then all Murmurs and Com­plaints will cease, and universal Love appear in the Face of each Man. And what more Noble and Grand than to be of a just God-like Way of Thinking and Acting: and what more like the Devil than to be of a mean, low, poor, grovelling, selfish Nature, so much de­spised and abhorred by the almighty Being of Beings. As for my Part, I can with hum­ble Modesty say, I am a true Lover of Man­kind, and heartily wish Prosperity to every in­dividual Man now living on the Earth. And as I promised the Publick, two Years since, a Book on Manufacturies, (having almost compleated it) when compleated I shall lay it before the Publick. And as the Publick receives this small Hint of a Scheme, I shall be able to Judge how my Book of Manufac­turies will be received. Having nothing more to add. I make bold, Gentlemen, to sub­scribe my self a true and hearty Lover of New-England.

Richard Fry.
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A SCHEME FOR A Paper Currency.

READING in some of the News-Papers, the last sitting of the Honourable Assembly of this Province, of a Peti­tion sign'd by a great Number of the Freeholders of this Town, was presented to the Court, for Relief under their present difficult and distressing Circumstances, for want of a sufficient Medium; whereby the Trade and Business of the Town is very much decayed, Law-Suits increased, and Cash to purchase the Necessaries of Life hard to be attained, even by many of good Estates among them. It must plainly appear, to a Mathematical Demonstration, that nothing can help or relieve this Town out of its present great Difficulties and bad Circumstances, but Frugality and Industry, and pursuing just and reasonable Schemes. For any reasonable Man living to think that the Printing a few Rheams of Paper, with­out the least Shadow of Foundation, and calling it Money, will relieve them, they are vastly mistaken, it will only lead them into a vast Labyrinth of Evils.

THE following Scheme will appear to a full Demonstration what vast Service it will be to this Town.

IT must be allowed that a Number can perform more than a few, which is just and r [...]asonable: For the Gentlemen in England, Holland and other Parts of the Trading World, form themselves into SOCIETIES and COMPANIES for the carry­ing on vast Designs in Trade and Commerce. The Dutch are the only People [Page 2] who have got Money by their first Scheme: Their Maxims are thus, when they have a Mind to bring any Manufactury into their Country, they always procure the best Workmen from that Country where that Manufactury is carried on to the utmost Perfection. Having procured Workmen, they perform to those Men their Engage­ments and Contracts to the least Tittle: And those Workmen finding themselves justly dealt withal, they directly bring that Manufactury to as great Perfection as it is carried on in the Country they came from. And thus from these wise Maxims, which the Dutch have followed, they have brought them to that glorious Figure which they now make in the World.

NOW to my Scheme. There is the compleatest Place for the Erecting and Build­ing Twenty Mills on of any Place I ever saw in my Life; it is from the Warehouse of JO [...] LEWIS, Esq. near the Fortification, across to his Warehouse on Dorchester Point. I suppose, was it possible, that such a Place could be procured as near Amsterdam as this is to Boston, the Dutch would give One hundred Thousand Pounds Sterling for such a convenient Place.

OUR Mother Country will be much pleas'd with this Scheme, because not one Mill will interfere with any of the Manufactur [...]s in Great Britain. I shall explain the great Benefit and Advantage of sundry of these Mills▪ which by the Parity of Reason will explain the test. It's plain to a Demonstration, that those Corn Mills which are erected on the Mill Pond, will in a few Years be of no Service. The Reason is▪ Be­cause the Pond fills so fast with Filth, that there will not be sufficient Water to carry on the said Mills. And such a fine, beautiful Tract of Land will be more fit to build Streets of Houses on▪ and ten Times the Improvement than they are at present em­ploy'd in. And these Corn Mills (to be built on the aforementioned Place) may be built to the same Advantage as they are now in England. The Corn Mills have been vastly improved in England within these Twenty Years. And those Mills being built to the same Perfection they are now built in England, they will grind more Flour by six lb. Weight out of a Bushel of Wheat, and make better Flour, than any Mill now built in America. (For all the Mills now built in America, are built in the old Form) So that the Merchants of Boston may purchase Wheat from the Wheat Countries, and supply the West-Indies Cheaper than either New-York or Philadelphia. For the Tenth of these Fac [...] I appeal to the Millers and Bakers of Boston. A Number of Saw-Mills for the Ship Builders and Jo [...]ers, they will be able to de­monstrate Leather Mills, the Gentlemen Leather-Sellers will be able to inform. L [...] Oil Mills, the Consumers of Oil will able to inform. There being vast Quantities of Iron B [...]g Ore at the Eastward. Mills to run into P [...]ggs for Great-Britain. [...] Mills for grinding Tanners Bark, both for home Consumption and Ireland, se [...]eral Gentlemen will be able to inform. A Number of Logwood Mills, a Num­ber of Merchants will be able to inform: And so by a Party of Reason all the rest of the Mills are explained. The Place lies entirely on Water Carriage, and has a constant Supply of Water all the Summer, which is the only Time to perform Busi­ness. It has already been justly Surveyed, and a Plan taken. And was a Number of Gentlemen to be incorporated by the General Assembly, they might bring this Scheme to Perfection immediately, to the vast Service of this Town and Province in general. I can with Modesty say, this is the best Scheme that ever was on the [Page 3] Tapis since the Colony has been settled. It is not like the Uncertainty of the Min [...] Adventurers, but as soon as these Mills are built they will produce a certain Profit, as sure as the Sun that moves. The Corn Mills at Bow near London, with twelve Pair of Stones, are let at Nine hundred Pounds Sterling a Year, and I will Mathe­matically prove, that twelve Pair of Stones built on the abovementioned Place will produce as much Profit as the Mills at Bow. And such a fine Scituation for Mills can­not be better in any Place in the World. There is now an absolute Necessity for coming into a just Scheme in order to have Money pass for a Supply of our com­mon Necessities, till such time as by our Frugality and Dent of Industry we bring Silver and Gold to pass as a proper Medium; which was the real Design of [...] Majesty's Royal Instruction not to make any more Paper Bills, which is absolutely a common Cheat, let them be made in any Form or Shape whatever, without a solid Foundation to support their Value. Was a Number of Gentlemen to be in­corporated, and the whole Bo [...]y liable to be sued as one Man, their Notes of Hand would pass better th [...]n any Money to be made by the Province, because the Pro­fi [...]s a [...]ising by the Mills would be a solid Foundation. I shall only mention one Company in London, that is the New River Company, which pays them Twenty per Cent interest; then, would not the Notes of such a Company pass equal with Bank Notes, or Gold or Silver. I will Mathematically demonstrate to any Man living, t [...]at these Mills will produce Twenty per Cent. then consequently their Notes must pass equal to Silver and Gold. All Mechanicks are now brought to be proved by mathematical Demonstrations, so that it is impossible to err in building these Mills, for it may be computed to a single Farthing what each Mill will cost. And these Mills [...]ng built according to the Mathematicks, then it may be easily demonstra­ted what each Mill will produce yearly, so that the Company may proceed like wise Master-Builders. And when the above Mills are brought to Perfection, a vast Number of great Schemes may be laid before the Company, which they will natu­rally come into: For we have a common Proverb, Mathematical Demonstrations can a [...] Man [...]. And it would certainly be for the interest of New-England not to make one Paper Bill m [...]re: The Reason is, The Notes of Head made by the Company will answer the Ends and Purposes of purchasing all the Necessaries of Life▪ and these Notes not being made a Tender in Law, it would absolutely oblige the Merchants to bring Gold and Silver to answer [...] Specialties, or else it would be impossible for them to carry on Trade and Merchandi [...]e. For so long as the Assembly continues to make Paper Bills the whole Publick will depend on them. Each Gentlemen will flatter himself he shall be able to procure as many Bills as will answer all his Designs. But any Man that knows the just State of the Pro­vince must allow that according to its present Scituation it requires a Million ready Specie to carry on the Trade of the Province: It is therefore a meer jest to make a few Paper Bills, [...]king that will answer the End, it will only embarrass and entirely Ruin hundreds of Families, and bring on Law-Suits almost numberless. It must be allow [...]d that a Merchant managed his Affairs with Prudence and Caution, when he has brought his Trading to such a Point that his Profits may be large, and his Loss not considerable. But should a Man of Traffick put Twenty thousand Pounds on board a leaky Vessel, and send it to the Spanish West-Indies, through as many Dangers as there are Shelves in the Sea, or Points in the Compass, with the [Page 4] bare Hopes of gaining Six Peace, would not all Mankind post up such a Merchant for a mad Man: I leave the Application.

THIS Body Politick may be justly compared to a Merchant beginning the World with One hundred Thousand Pounds, and directly advanceth to a Trade that requires One Million ready Specie. Notwithstanding the Merchant has an exceeding good Character in all Parts of the trading World, and his Credit supported a vast many Years with a fair Shew, yet in the End it will be the intire Ruin, not only of him­self, but of vast Numbers of other Men. The Reason is, it is plain that for want of a sufficient Sum to carry on his Trade, he is often obliged to part with his Goods for less than Prime Cost, besides making use of Userers and griping Extortioners, which will always Prey on him like so many Vultures or Horseleach's: And the poor honest Gentleman, so far from growing Rich for the Reward of his great Pains and Industry, not only sinks his own private Patrimony of One hundred thousand Pounds, but a great many Hundreds besides. His Character is entirely ruin'd in all Parts of the Trading World, and his End may be in Ruin and Want And his Sub­stance, with other honest Gentlemen's, who consign'd to him, got into the Hands of base unworthy Knaves, who have watched all Opportunities to take Advantage of the poor Gentleman's Necessity.

HIS Excellency JONATHAN BELCHER, Esq▪ our Governor, hath twice recommended to the General Assembly the employing a Number of Men to take an exact Survey of this Province, and the Extent of its Bounds. For this Province is hardly known by our Mother Country. And I can with humble Modesty observe, that the State of this Province was never yet fairly stated.

OUR Mother Country never was so full of Men and Money [...]ce the glorious House of HANOVER came to reign over us. And was a just Plan to be taken of this Province, and [...]aid before the Nobility. Gentry and substantial Farmers in England, the young Branches will bring their Fortunes into New-England and purcha [...]e Lands. For it may be Mathematically demonstrated, for a Gentleman to bring to New-England Five thousand Pounds Sterling, and [...]ay it out in Lands, it would in twenty Year time be worth Th [...]ty thousand Pounds Sterling, if they are improved after the same Man­ner they are in England. For the Lands there are prodigiously improved within these Twenty Years past: For a vast Quantity of Land was then Let for Eighteen Pence per Acre, which are now Let for Twenty Shillings per Acre. And I will demonstrate to any Man living, that the Lands in New-England are as good as they are in Old.

AS I am obliged to go to England with all my Law Suits, for want of a Court of Equity in the Country: And being forc'd to stay some Time there before: can [...] my Affairs to a final [...]. I will imploy my Time to [...]y down before our Nobility, Gentry and Farmers THE GLORIOUS STATE OF THIS PROVINCE, and what noble [...]mprovements they may make for their young Branches. Their Fortune at [...] make but an indifferent Figure there, but if laid out in New-England will with industrious im­provement [...] as the Original they sprang [...]. And it is [...] [Page 5] in the least to be doubted but his Royal Majesty and Par [...]amen [...] w [...]ll en [...]ourage such a noble Undertaking, [...]o much for the Good of [...] M [...]ther Country [...] Trade and Commerce.

OUR young Nobility, Gentry and Farmers coming now to New-England is not like the Gentlemen▪ first Settling th [...] howling Wilderness, at vast Expen [...]e, and the almost insupportable Difficulties. But tho [...]e worthy good Gentlem [...]n have fairly paved the Way. That as soon as our Gentry shall arrive at Boston, they will find no difference, e [...]ther in Provision or poli [...]e Conversation ( [...] tho [...] the least Dis­paragement to any Part of Great-Britain) for the [...]r Money may [...] improved [...] per C [...]nt more than they can be in Great-Britain, [...] improved e [...]ther [...] Lands or Manufacture. And I suppose f [...]rther. W [...] not the Gentlemen of th [...] Province to come into my S [...]heme of the M [...], I will lay all my S [...]heme mathe­matically before several of our Companies in London, and they will a [...] [...]ertainly come into the said Scheme, as sure as the Sun that moves. For they are all so full of Money, that shew them mathematical Demonstrations, and they will venture their Substance to the End [...] of the Earth, so I can with humble Modesty say, pro­vided Almighty GOD spare my Life to bring my Pro [...]ect [...]on [...] to Perfection, to the infinite Advantage of our Mother Country, and to the great Benefit of New-Eng­land. For I may justly observe, this most noble Province of the Massachusetts-Bay is superior to any Province in his Majesty's Dominions in America, both for Health and to be improved. And I further observe, these young Branches of our Nob [...]lity, Gentry and substantial Farmer [...] bringing large Substance, would be able to proc [...]re all Sorts of Naval Stores for Great-Britain, and entirely prevent the B [...] Trade. And there is no Merchant but what knows that immense Trade, so much taken Care of by the Northern Princes, particularly the Czar of M [...]y, after he came home from his Travels, (having taken a Tour thro' France, England and Holland) observing what mighty Riches they acquired by Trade and Merchand [...]e and for­ming a just idea of these Countries, that they could ra [...]e but small Quantities o [...] Naval Stores, and having large Dominions, he immediately gave Orders to all his Subjects to raise prodigious Quantities of Naval Stores, and he being an abs [...]lute Prince it was immediately comply'd with: Which was the first Scheme he had to bring forward those mighty Schemes which he afterwards compleated And all Mankind are Witnesses, from those [...]st Schemes formed by him, to what a mighty Figure they make, and at present appear in the World The Empire of [...] is no ways to be compared with his Majesty's Dominions in [...] And was his Majesty's Colonies to be [...] improved by proper Encouragement [...] from our Mo­ther Country, it would make our King one of the greatest Monarch [...] on Earth▪ For it must be Men of large Fortunes to proceed on that Scheme of [...] Naval Stores, and not Beggars. For it is plain that the People at the [...] can but just support Nature, by cutting Timber and Cord Wood, so it's plain in a Demonstration what Quantities of Naval Stores we may expect from those People▪

FROM the whole, I m [...]st humbly conceive it would be the great interest of this most native Province, for the Great and General Court to post an Act to encourage [Page 6] our young Nobility, Gentry and Farmers to come and settle amongst us, setting forth the Goodness of the Land, and the vast Improvements they may make of their Money, and to grant them what Lands they want to improve. Suppose but one single Hundred of our young Nobility and Gentry was to come with Five thousand Pounds Sterling in each Gentleman's Pocket, the Moment they arrive in Boston, the whole Land will be worth double the Value by their coming, this can b [...] mathematically demonstrated: But I don't doubt but Thousands of our worthy honest Gentlemen's Sons will come and settle to the utmost [...]ounds of this most noble Province: And then if a French War happen, King GEORGE and Canada forever; then his glorious Majesty King GEORGE will have a compleat Empire.

And I verily think that the Opinion of the ingenious Dr. Mather will certainly come to pass: For the Doctor in his Letter [...]o one Anthony William [...]leme, late Chaplain to his Royal Highness GEORGE when Prince of Denmark: The Contents of which Letter was this, That Dr. Mather had remitted so much Money by Bills of Exchange (collected from private Gentlemen in New-England) for the Propa­gation of the GOSPEL in Malla [...]e [...] in the East Indies: The Money was to be sent to Professor Fr [...]n [...]s at Hall in Saxony. After Dr. Mather had given a beautiful Description of Church Affairs, he concludes his Letter with political Affairs, and gives a fine Account of this Part of the World, and hear­tily lamenting the Misfortune of the Ca [...]d [...] Expedition, (but wholly lays the [...]lame on the Old-England Men) for he declares, That no Men on the Earth could proceed with more Courage and Resolution than the New-England Men: But the Dr concludes with this noble Saying▪ That I really and verily think, that in less than fifty Years, the glorious House of HANOVER will be Emperors of all America, and then it will the greatest Empire in the whole World. Now to any [...]king Man, the Doctor's Thoughts will certainly come to pass▪ For we see what a glorious Settlement is carrying on at Georgia, and how the English Nation are spirited to support that Province. And it is not in the least to be doubted but by proper Application to his Royal Majesty and Parliament, they would come into any Measures to make the Frontiers of this Province a strong Barrier against Canada; and then if the French and Spaniards dare to go to War with Great-Britain, so certain we shall take Canada and the Spanish West-Indies which will put a final End to all the Villanies committed on us by the Spaniards, and there is no true Englishmen but hopes and wishes to see that Day.

The worthy ingenious Capt. Plais [...]ed informed me he had received a Letter from Mr. S [...]s Hooper, Merchant in London, dated October 8, 1738▪ wherein he informs him▪ That the Pot-Ash remitted from New England to him, was allowed to be as good as that Pot-Ash which comes from Russia. It appeared by our Book of [...], there was upwards of Two Thousand Tuns imported from the Northern Kingdom in one Year: And Pot-Ash being worth Thirty Pounds per Ton, (the said 100 Tons at 30 l per Ton, amounts to Sixty Thousand Pounds) And as the Pot-Ash pays to his Majesty Six Pounds per Ton Duty; I do not doubt in the least for the [...]ncouragement of this Manufactury in these Parts, by properly applying to [Page 7] the Parliament for the Drawback to be taken off, it would be done, and a Royal Bounty granted: And the Gentlemen of this Province coming to a just Way of thinking, they might flow in Riches as they please. And these Gentlemen or Society that are concerned in the aforementioned Mills, might directly bring this Scheme of the Pot-Ash to Perfection; and what glorious Farms would be produced from this Scheme of Pot-Ash?

I had almost forgot to mention one more great Benefit to this great Town of Boston in the building these Mills, which all Mankind must allow to be just; that is thus, Suppose it should happen a War, by having such a fine Communication with the Castle, we might soon supply that Fortress with Ten Thousand brave Fellows that would face any Enemy on the whole Earth. And by this Scheme the great Town of Boston may be made impregnable. We may see to what a glorious Spirit the English Nation are arrived to, in improving every Thing that's possible to be done for the Good of the Publick; witness the advancing 700,000 l. towards building a Bridge from Westminster across to Lambeth; and there is no Gentlemen, that are thinking Men, but knows the Profits arising by Tole of the said Bridge will not bring in more than Two per Cent Interest; but they all know it's for the Good of their Country, therefore they see it necessary it should be done notwithstanding the Insufficiency of the Premium for such a vast Undertaking. Therefore as the aforementioned Mills can be mathematically proved, to produce Twenty per Cent. it will be look'd upon in England, if it is not done, that the Gentlemen of this Country do not consult their own Interest and the general Good the whole Country will reap therefrom. And for any Person or Persons to send Home any dismal Complaint of the State of the Province, it will be look'd upon as only noisy Faction and Clamour.

I have been always suprized to think what vast Improvements have been performed by the Gentlemen of this Province in one Century. But now, provided our young Nobility, Gentry and Farmers come over, with their Pockets full of Money, what vast Improvements may be expected in the next Century.

I don't in the least doubt but these fifteen Colonies will arrive to as great a Pitch of Glory as those fifteen Provinces of China. And as Sir WILLIAM TEMPLE ob­serveth, it must be allowed to be the greatest, richest and most populous Kingdom now known in the World; and will be found perhaps to owe its Riches, Force, Civility and Felicity to the admirable Constitution of its Government, more than any other. The Empire consists of fifteen several Kingdoms, which are govern'd by Vice-Roys, who yet live in Greatness, Splendor and Riches, equal to great and sovereign Kings. In the whole Kingdom there are 145 Capital Cities, of mighty Extent and magnificent Buildings; and 1321 lesser Cities, but all walled round; the Number of Villages is infinite: And no Country in the known World is so full of Inhabitants, nor so improved by Agriculture and Manufacturies, by infinite Growth of numerous Commodies, by Canals of incredible Length, Conjunction of Rivers, by Convenience of Ways for the Transportation of all Sorts of Goods from one Province to another; so as no Country has so great a Trade.

[Page 8]THERE is a vulgar Error, to the vast Damage of this Province, that the New-England Oak is far inferiour to the Oak in Old England; and the Error has [...]o long prevailed that it's now really allowed by all Sorts of People to be Fact: And the only Reason I find to Support this Opinion is, that the Ships built in New-England will not last so long as those built in Old: I grant what they say. Those Ships that have been hitherto built, are not so good as those built in England. The Reason is plain to a Demonstration why they are not so good▪ The People that procure the Timber cut it down in Season and out of Season, for they are obliged to cut it as fast as they cut it. The Ship Builders are poor, and the Merchants will al­ways keep them so, according to the present Scheme they act by▪ so that it can­not be expected, from the solid Reason of things, these People can build with regu­lar season'd Stu [...] I can with Modesty say, I understand the just and true Nature and Goodness of Oak, as well as any Man living. And I am fully determined to prove, before the Commissioners of his Majesty's Royal Navy, that there is as good Oak in America as any in Old England. And that it would save his Majesty some hundred thousand Pounds Sterling, by building Fourth, Fifth, and Sixth Rate Men of War in New-England. I am certain of destroying this vulgar Error concerning the Oak, and with as much Pleasure as Daniel destroyed Bell and the Dragon. For the English Nation are arrived to a fine Method in polite Reason and Thinking. For in the present Age, no Man that has or really pretends to have the least Shadow or Foundation of common Reason, will by any Means be Hoodwink'd, but shew him mathematical Demonstration and he will come into your Scheme directly, so that any Man that Grounds his Hypothesis on solid Truth will certainly gain his Scheme.

I humbly make bold to make use of an Observation of a worthy, learned Gentle­man, who is look'd upon by all Men in the Province to be a Gentleman of solid Knowledge and Learning, he lately wrote an Essay concerning Silver and Paper Currencies; and it is allowed to be comple [...]ly done: He observeth thus on a private Bank. Private Credit, or Notes on a good solid Foundation, are better than publick Bills; the former cannot imp [...]e or break their Faith, (they are a C [...]) the Pub­lick is the Der [...]er Resort, and in bad Administrations frequently break their publick Faith. Hence the Credit of a well regulated Commerce or Corporation, is better than that of the Civil Administration. The Bank Money at Venice is [...]0 per Cent. better than common Currency. This private commercial Credit in all po [...]e Nation is [...]o [...] ­aved at present that the Civil Government stands corrected by it. The Generallity of the United Province did A [...] 169 [...] ▪ C [...] alloy'd [...]ieces, called Q [...] Sele [...], at 6 S [...]vers each, being near to per Cent above their [...] Value. The Bank re­ [...] their [...]gnity, and it again ro [...]e to 13 and 15 per Cent. [...] the Govern­ment to reduce these Schellings to 5 and half S [...]ers, their intrinsick Value, and have continued so ever since▪ And the Age of the Bank sell to 3 or 5 per Cent. as formerly Anno 1720, France being in the most d [...]mal Confusion by their Paper Currency, their Court was obliged to apply to the Merchants and Bankers for their Advice, concerning a Method to be used to find out the natural Proportion between publick Bills and Silver Species, and to Limit their proper Effects to a certain Sum; a plain [...]llustration that private is better than publick Credit. We have among our selves our Merchants [Page 9] Notes, [...]o called, being well sounded, were 1 [...] and half per Cent. to December 1737, will be 18 per C [...]nt. in December 1738; 1 [...] and half per Cent. 3 7ths of them then paid off, in December 1739; 19 and half per Cent in December 17 [...]0; 36 and half per Cent. in December 1741; and 3 [...] per Cent. in December 17 [...]2, lower than the present Value of our Province Bills at 27 per Cent. because they are continually growing bet­ter until they come to their fix'd Value, at which they are to be paid off. That it will be with these Notes made by the Company for the Building these Mills.

THE worthy Gentleman very justly observeth f [...]rther, When Paper Money is in a continued Course of depreciating, all Debts and other Contracts, are paid in less Value than they are contracted for: which is an unjust, but natural Operation of this false Medium. The generous foreign Adventurer or Merchant, and consequently Trade in its genuine Sense, is [...]urt; the Shopkeeper and Merchant H [...]cksters, who have a long Credit from their Merchants and abuse this Credit Industry and Frugality, the only Means of growing rich, and turned aside, in the Place of being industrious, the young Men, called Gentlemen, follow no other Business but Drinking and Gaming; many in Quality of Shopkeepers become Dro [...] ▪ Tradesmen, of all Occupations in Boston, loiter away much of their Time; the Husbandmen, in the Country, spend many idle Days in their [...] from Taverns. Frugality is superceeded by Prodigality and Extravagancy, [...] too apparent in fine Houses and Furniture, Cha [...] and other Equipages, Velvets, Scarlets, rich S [...]s and Laces▪ Thus for such that learned and in­genious Gentlemen, the Author of the Silver and Paper Scheme.

FROM the whole of the Scheme I observe, and will make it appear to any Gentle­man or Body of Gentlemen, that th [...]se Mills aforementioned, will produce Twenty thousand Pounds [...] Profit each Year. But this Scheme is a small [...] one to what I have by me. And as I have drawn all my Schemes to be proved by the Mathema­ticks, and all Mankind perfectly know [...] that Figures will not lye, [...] rightly placed. And I don't doubt having the Approbation of all solid, wise judicious and thinking Men in all Nations of the trading World. For there is no Par [...] on the whole Earth [...] where Money is to be got and improved, more than what is to be g [...]t in his Majesty's Provinces in America. I shall endeavour, to the utmost of my Power, to forward the Establishment of a Bank, on such a Footing as to bring the wise Men in all the trading Nations to be concerned in it And I do not in the least doubt of having the Royal Majesty's Approbation, and that great and de [...]er Resort, our great and a [...]t Parlia­ment of Great Britain, which Assembly is now the Glory of the whole Earth.

WE may see what a noble Harmony there is between the Parliament and our most gracious KING, by the bottom Clause of his Majesty's Speech, which he recommends [...].

MY Lords and Gentlemen,

I cannot but carefully recommend it to you, not to suffer any Prejudices or Animosities to have any Share in your Declarations of this important Co [...]ture, which forms in a particular Manner to call upon you to [...] in carrying on such Measures as will be most [...] to the true interest and Message of My People.

[Page 10]THE most noble LORDS Answer to his Majesty is full of Duty.

We are deeply sensible how unbecoming and pernicious it would be at any Time, to suffer either Prejudices or Animosities to mix themselves with parliamentary Deli­berations: And your MAJESTY's gracious Recommendation to us particularly to avoid them at this importunate Conjuncture, cannot fail to awaken in us a more than ordinary Caution on that Head. Great-Britain hath but one common Interest consisting in the Security of your MAJESTY's Person and Government, and the Welfare and Happiness of your People. And when your MAJESTY is pleased to exhort us to Unanimity, it is only calling upon us to unite to our own Preservation. We there­fore beseech your MAJESTY to accept the strongest and most affectionate Assurances, that we will zealously and cheerfully concur in all such Measures as shall be most condusive to those great and desirable Ends.

THUS answered our most noble LORDS, which is like Apples of Gold in Pictures of Silver, and a glorious Pattern for all his Majesty's Subjects.

AND as Sir ROBERT LE ESTRANGE justly observeth, Let Error, Corruption or Iniquity be never so strong, never so popular, let the Ignorance of things necessary to be known be never so dark and palpable, we may yet assure our selves, That however Truth and Justice may suffer a temporary Eclipse, they will yet at the long run as certainly vindicate themselves, and recover their original Glory, as the setting Sun shall rise again.

P. S.

Cum sit alioqui multo deformius, amittere quam non assequi Laudem.

Plin. Ep. Lib. 8.
I am, Gentlemen, Your most obedient humble Servant, Richard Fry.
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POSTSCRIPT.

SINCE the finishing this Scheme, the worthy and ingenious Capt. CYPRIAN SOUTHACK made me a Present of the New-England Coasting Pil [...]t. And as I am informed, the Motive that induced him to make me this Present, was his hearing that I was drawing the present State of the Province; he was willing to for­ward such an Undertaking as much as lay in his Power. As it is allowed by all Man­kind, that Ingratitude is as bad a [...] the Sin of Witchcraft, therefore I think it my Duty to return Capt. SOUTHACK my most hearty Thanks for the Present of his New-England Coasting Pilot, in this publick Manner. And all the Gentlemen of this most noble Province ought to know what a just Value our late mo [...] glorious King WILLIAM shew'd Capt. SOUTHACK, for this his noble Undertaking. The following Order of his Royal Majesty will demonstrate it.

At the Court at Whitehall the 26th of February, 16 [...]. PRESENT, The King's most Excellent Majesty in Council.

WHEREAS Capt. CYPRIAN SOUTHACK, who has been for several Years employed by the Government of New-England at Sea, and has performed divers signal Ser­vices in several Expeditions; having this Day [...]ed the Honour to Kiss his Majesty's [...]ed; presented to his Majesty a Draught of New-England, Newfoundland, No [...]-Scotia, and the River of Canada, and the Seas and Territories increases adjoining, made by himself in the said several Expeditions: His Majesty taking into his gracious Consideration the said CYPRIAN SOUTHACK, and for his further Encouragement, is pleased to Order as to hereby ordered the Sum of Fifty Pounds, to be paid to him for the Buying a Gold Chain and Medal, as a Mark of his Majesty's Royal Favour; and that the Right Honourable the Lords Commissioners of the Treasury do give all necessary Direction for the speedy Pay­ment of the said Sum.

JOHN NICHOL [...].

YOU plainly see what a just Sense of the Merits of this Gentleman his Royal Majesty conceived. And I must humbly observe to the Gentlemen of this most noble Province, that they could not express their just Value and Esteem for [...] great Deliverer, our late most august and glorious King WILLIAM, than by erecting to his Memory his Majesty's Statue on Horseback, erected on a Pedestal, and placed before the Town House facing King Street: And there is not one Man in the Province, that is a Lover of Liberty and Property, but what will contribute towards such a noble Undertaking▪ The Gentlemen of Ireland have, notwithstanding the [...] Monument in the City of Dublin, erected soon after, and in Memory of his Majesty's glorious Act [...], further to perpetuate the same, erected another of glorious Structure in the great River of Beyn [...], where the chief Scene of their Deliverance was, by the Almighty [...] Majesty's Arms, fully compleated. From this glorious Example I hope the Gentlem [...]n of this most noble Province will not be wanting to erect a Trophy of Ho [...] Me­mory of him they have expressed so great a Value for by Words; but as for Wor [...] we all know they cost nothing As for the worthy and ingenious Capt▪ [...]. I have not heard that he has received any Grat [...]ty by way of [...]ty for his [...] [Page 12] Labour and Pains in serving this most noble Province. Mankind nothing more imitates almighty God, than by rewarding those that lay out their Powers and Faculties in ser­ving Mankind, This Coasting Pilot gives me a just Idea of the Coast of his Majesty's Provinces from New-York to the Bay of Funday. The very Islands are able to contain Millions of People; which absolutely destroys that vile selfish Principle of some People which say they are not for Strangers coming amongst them, because they shall not have Land enough for their Children; which is really a childish Story.

UPON moderate Computation the Gentlemen Farmers have borrowed on Bond and Mortgages upwards of Five hundred thousand Pounds; of which the greatest Part is let at 10 per Cent. And according to the present Scituation of Affairs, it is impossible for those Gentlemen to pay off their Securities: So that a Gentleman that has Mortgaged his Form for 500 l. that is worth 2000, his Farm on Prosecution is certainly forfeited for want of the 500 l. And its impossible it should be otherwise whilst the griping Usurers Monopolizes into their own Coffers, the Bulk of that small Quantity of running Specie that is now Extant amongst us. And as the old saying is, The just Value of any Commodity whatever, is what it will fetch. The only Remedy to avoid this great Evil, is for the Assembly of this Province, as I observed before, to lay just Schemes, to perswade and allure our young Nobility, Gentry and Farmers to come and settle among us▪, and it's not to be doubted, but these Gentlemen would purchase the Farms of those Gentlemen that have involved themselves, and are now in a State of Bondage; and they may put Money sufficient in their Pockets to proceed on the Settlement of new Farms on the out Lands, with Resolution and Vigour. And in a few Years, by com­mon [...]ndustry, they will have as good Farms as they at first parted with, and an entire Freedom from the grand Oppression they then labour'd under. And upon the Arri­val of a Number of our young Nobility and Farmers, with a Quantity of Money, it would make it a Year of Jubilee for all those Gentlemen that now labour under the present grand Oppressions. For all Gentlemen well knows what a vast Number of Farms must be put to Sale in few Years▪ And no Purchasers can appear to buy of these Country People The Reason is, because they will not have Money to pay for them. And further, I observe to the Gentlemen Sh [...]pkeepers not to purchase large Quantities of English Goods, for some time, till the Ballance of Trade is brought to a more fix Standard, for it may be mathematically proved, that as certain as any Man buys large Quantities of Goods, so certain he will be ruined: For as some Gentlemen have lately got Estates by the prodigious Rise of Goods, so certainly some Men will be ruined by their great Fall▪ which will come to pass, as sure as the Sun that moves.

I must observe, by way of Comfort, to the Gentlemen that labour at present un­der great Oppressions, that we have a common saying. A desperate Disease must have a desperate Cure; but if more pacifick Measures can be found out, it will be vastly more pleasing to th [...] Body Politick. For as Harmony and sincere Love are the just Foundation of all Happiness both in this World and the World to come, and [...] General Assembly are the proper Physicians, it is not in the least doubted but they will make a sound Cure of this Body Politick, and lay a solid Foundation of Happiness for the rising Generations. And what more noble and grand than to lay great Designs for future Ages to copy after▪ which will be lasting Monuments of Pra [...]e to our great Assembly.

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To His EXCELLENCY JONATHAN BELCHER, Esq Captain General and Governour in Chief in and over His Majesty's Province of the Massachusetts-Bay in New-England. To the Honourable His Majesty's Council. And the Honourable House of Representatives, in Ge­neral Court assembled at Boston. The Petition of Richard Fry of Boston.

Humbly Sheweth,

THE late great Piece of Justice done unto your most humble Pe­titioner, in dismissing the High Sheriff of York's most unreasonable and unjust Petition, imboldens me to lay before you the present great Hardships and Sufferings I labour under: And knowing the Justice and Wisdom of this Great Assembly, flatter me with great Hopes and Expectations of having my Desires and Requests gran­ted. I am now confin'd in his Majesty's Goal at the Suit of Mr. Samuel W [...]ld [...] of Boston, and Thomas Westbrook of Fulmouth, Esq for Seventy Pounds Sterling, ob­tained against me at the last Superiour Court held at York. Your most humble Petitioner in fact saith, that for want of one Writing or Instrument, under the Hand of Mr. Samuel Walde of Boston, which was taken away from your Petitioner by Abraham Tyler, the Under-Sheriff for the County of York, under Colour of an Execution from Mr. Samuel Waldo of Boston, and hath taken and converted the said Writing or Instrument to his own Use, to the great Damage of your Petitioner. Your most humble Petitioner further observes, it has been always the Wisdom of this great Assembly to reward all those that have any ways served this Province, with Rewards and Favours. Your Petitioner indented with Mr. Samuel Waldo in the Year 1731 in London, to have built within ten Months after my Arrival in New-England, [Page ii] a Paper [...] Your Petitioner arrived in New-England in the Year 1731. and [...] four Years wholly at his own Expence, till such Time at the said Mills were built. Yo [...] [...] ▪ willing to promote the Good of this Country, drew a Plan for sundry Sorts of Mills to be built, which was across Presumsc [...] River in [...] which Scheme the [...] and We [...] came into, and built the said Mills. And your Petitioner [...]t for one Mr. John C [...]llier from England, which [...] the Lea [...] of the said Mills as [...] hundred Pounds Ster [...]ng per Ann. for twenty one Year. Your Petitioner was to pay Sixty four Pounds Sterling per Ann for twenty one Year, for the Paper Mill. And the said Samuel Waldo and Thomas Westbrook con [...]ed before Capt. Gree [...], Mr. George Cr [...]ck and Mr. Br [...]nden, Merchants of Boston, that they told and owned in the Township of [...]a [...]rth, Fifteen thousand Acres of Land, and that one Acre with another was Three Pounds more in Value for the Improvement of these Mills. But the said Waldo and Westbrook not con­ [...] with their Improvement of Two hundred and sixty four Pounds Sterling per Ann. and the va [...] Improvement of their Land, they covered the Improvement of all the Mill, and paid Mr. John Collier Six hundred Pounds for his Lease, the said Collier [...]nding what Sort of Men he had to deal withal, sold them [...] said Lease. The said Waldo and Westbrook offerd your most humble Petitioner Five hundred Pounds for the [...] of my Lease, but I would not comply with their most unreasonable and unjust Request: So they have entred into a Combination with the Deputy-Sheriff of York, [...] Ty [...]r, under Col [...]r of an Execution hath violently entred my Mills, and have converted all my Substance to their own [...] and have committed my body to Boston Goal. Your most humble Pe [...]oner in fact [...], he is not indebted one Far­thing [...]ther to Samuel Waldo, Thomas Westbrook or Abraham Tyler, but the said Waldo, Westbrook and Tyler have [...]ded contrary to all Law, Justice, Reason or Equity now subsisting in the Christian World. Your most humble Petitioner prays to have Leave to bring his Writ of Review to be [...]ried in the County of S [...]o [...], [...] the [...] Super [...] Court to be held in August, against the said Samuel Waldo and Thomas Westbrook ▪ The Reason is, because I am confined in Boston Goal, and my Witnesses are in Boston. Your Petitioner further prays, for his great Improvements in this Province, and his leaving his own Native Country, and his great Charges is coming over and waiting four Years at his own Expence. (And there is no Member of the Honourable House but must know the keeping a Family in a pretty [...], Manner, four Years, must amount to a large Sum) Your humble Peti­tioner prays to have a Tract of the Waste Land [...] granted him, belonging to this Province, which in [...] may be serviceable to his New-England born Son, James [...] ▪ Which [...] GOD in his good Providence hath given to your Pe­ [...]tio [...] in th [...]se his great Troubles and A [...]. Your most humble Petitioner [...] all his Desires and Requests to the great Wisdom and Order of this great and [...] Assembly.

Richard Fry.

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