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New England (United States) (search for this): article 1
oing more into detail. To carry on the revolution colonial bills of credit were issued to the amount of two hundred milions of dollars. For six years this was almost the circulating medium of the country, and was exclusively used in domestic Trade. After a time owing to the presence of the French army and trade with Spanish smugglers, specie became plentiful, and the Colonial notes grew valueless and went out of circulation. Hundreds of private individuals and companies, especially in New England, issued notes upon their own responsibility, and theme, too, became worthless. No one thought of redeeming them. The whole history of this Continental paper money is a history of au immense front, originating with Boston speculators, who patriotically shouted "down with the King !" and clamored loudly for revolution and war. As soon as peace was declared the paper issues entirely ceased to circulate — the specie was sent off to pay for foreign goods, and, the importation being large, th
Georgia (Georgia, United States) (search for this): article 1
pedient to supply themselves with money. This, after a short time, impoverished the merchant, and embarrassed the planter by driving all the specie beyond his reach. A shinplaster would not be noticed when coin could be had, and every, possible plan was resorted to to keep it in circulation. The State of Virginia tolerated a base practice of allowing people to cut dollars and smaller pieces of silver for the purpose of making change without recourse to paper note of small denominations. Georgia followed, and speculation soon became the rage. A piece of silver was cut into five parts, each part passing for a quarter, the owner making one by the operation. When there was no silver to speculate on, everybody went to making paper money again, until the country was completely flooded with vile shinplasters. The consequence was that when foreign trade was established, the States found themselves in an indescribable prostrate condition. Half the people were utterly ruined; only the b
Virginia (Virginia, United States) (search for this): article 1
being large, the country was soon drained of its gold and silver --Once more the people began to cry out for want of change, and many of the States had recourse again to the same wretched expedient to supply themselves with money. This, after a short time, impoverished the merchant, and embarrassed the planter by driving all the specie beyond his reach. A shinplaster would not be noticed when coin could be had, and every, possible plan was resorted to to keep it in circulation. The State of Virginia tolerated a base practice of allowing people to cut dollars and smaller pieces of silver for the purpose of making change without recourse to paper note of small denominations. Georgia followed, and speculation soon became the rage. A piece of silver was cut into five parts, each part passing for a quarter, the owner making one by the operation. When there was no silver to speculate on, everybody went to making paper money again, until the country was completely flooded with vile sh
s evil can be stopped I leave wiser heads to determine. I have spoken of the matter as it exists — in a spirit of levity, may be — but nevertheless have called attention to some patent truths, But, joking aside, this is a matter that calls, at least, for an examination, not so much on account of its being a present outrage as on account of the evils it entails upon the future. A bout the Burnside fleet. Like "his illustrious predecessors," (intended for sarcasm, as Artemas Ward say,) Burnside went to sea in a storm, after allowing six weeks of lovely weather to escape him. Soon after the expedition sailed a huge wind arose, and from that time to this old Boreas has kept out his scouts in the shape of storm-clouds, which scud rapidly across the sea. The ocean has been rough and turbulent. It must have been a musing to have seen the condition of these transports yesterday and day before and to have seen eight or ten thousand soldiers paying their devoirs to Hatteras as the ship r
Wilmington or to rein force Gen. Stevens on the Carolina coast; but something must be heard from it before this supposition reaches you. In the local line there is little to relate. An incident or two; a furious storm; the promise of a hop at the "Huger Barracks;" and a fair for the benefit of the Fiftieth Virginia, which opens to night, are about all I believe. The question of the collectorship is exciting some talk, especially as the Yankee prints are making a great handle of Mr. Garnett's advertisement. It is fortunate that the fault of an expose does not rest on some honest and hard working newspaper reporter or a civil "Aunt Betty," or a military "Grandmother" might issue and edict of excommunication against him. The true state of the case I believe to be this; An appointment was made here which, whether justly or not, gave rise to some complaint. After that, no person came forward to take the place. And why ? Because the salary is only $800 and a bond of $40,000 is
Artemas Ward (search for this): article 1
How the pernicious evil can be stopped I leave wiser heads to determine. I have spoken of the matter as it exists — in a spirit of levity, may be — but nevertheless have called attention to some patent truths, But, joking aside, this is a matter that calls, at least, for an examination, not so much on account of its being a present outrage as on account of the evils it entails upon the future. A bout the Burnside fleet. Like "his illustrious predecessors," (intended for sarcasm, as Artemas Ward say,) Burnside went to sea in a storm, after allowing six weeks of lovely weather to escape him. Soon after the expedition sailed a huge wind arose, and from that time to this old Boreas has kept out his scouts in the shape of storm-clouds, which scud rapidly across the sea. The ocean has been rough and turbulent. It must have been a musing to have seen the condition of these transports yesterday and day before and to have seen eight or ten thousand soldiers paying their devoirs to Hatte
some patent truths, But, joking aside, this is a matter that calls, at least, for an examination, not so much on account of its being a present outrage as on account of the evils it entails upon the future. A bout the Burnside fleet. Like "his illustrious predecessors," (intended for sarcasm, as Artemas Ward say,) Burnside went to sea in a storm, after allowing six weeks of lovely weather to escape him. Soon after the expedition sailed a huge wind arose, and from that time to this old Boreas has kept out his scouts in the shape of storm-clouds, which scud rapidly across the sea. The ocean has been rough and turbulent. It must have been a musing to have seen the condition of these transports yesterday and day before and to have seen eight or ten thousand soldiers paying their devoirs to Hatteras as the ship rounded the cape. Old seamen say the storm was very severe outside, and we have been piously hoping that every vessel may go to the bottom before it is over. If the expedit
a sardine box. "Do you call this money?" holding up an advertisement of fine Havana cigars-- "And this"--a bill for 15 cents, in which some weak minded printer had gone raving mad in different kinds of type. "Good for one shave; (reading slowly) Dick, the Barber-- Do you call this money?" The sleek-haired clerk was puzzled also. "It'll pass all over town; indeed it will, sir" Once more the soldier scrutinized the ragged and incongruous pile, and grasping it in one hand, soliloquized: "So, th same results. Hundreds of corporations and even individuals, regardless of the law, are engaged in the pernicious business of issuing private money, not for public convenience, but that profit may accrue Banking has become a rage. The notes of "Dick, the barber." circulate the same and lie in the same portmanteau beside those of "Gunny Rags, the ship chandler" Norfolk is disgustingly full of these personal shinplasters. Men advertise their wares on a bit of paper, sign their names to it, and
n a musing to have seen the condition of these transports yesterday and day before and to have seen eight or ten thousand soldiers paying their devoirs to Hatteras as the ship rounded the cape. Old seamen say the storm was very severe outside, and we have been piously hoping that every vessel may go to the bottom before it is over. If the expedition escapes the Scylla of the sea, it has a Charybdis on land to encounter. I believe its destination to be either Wilmington or to rein force Gen. Stevens on the Carolina coast; but something must be heard from it before this supposition reaches you. In the local line there is little to relate. An incident or two; a furious storm; the promise of a hop at the "Huger Barracks;" and a fair for the benefit of the Fiftieth Virginia, which opens to night, are about all I believe. The question of the collectorship is exciting some talk, especially as the Yankee prints are making a great handle of Mr. Garnett's advertisement. It is fort
January 15th (search for this): article 1
From Norfolk. [our own Correspondent.] Norfolk, Jan. 15. "Do you call this money?" Leaning over the counter, a puzzled volunteer was endeavoring to reckon up the change just paid out by the sleek haired clerk Before him lay a quantity of mutilated bills, ragged and dirty pieces of paper, bits of cardboard, printed checks, a few copper pennies, milk tickets, postage stamps, and other interesting specimens of the present outrageous "coin of the realm" Over and over again the puzzled volunteer essayed to count the pile of villainous currency, and over and over again he failed to find it satisfactory — It was too much for his rustic arithmetic the problem was too difficult to solve upon only ten fingers. The bystanders laughed. The money was spread out upon a show case, as young ladies lay cards upon a table in telling fortunes, and the soldier stood before it searchingly examining every piece. "Do you call this money?" he asked, taking up a small, yellow parallelogram lo