On the record
Any other well-founded credit, is as much an equivalent as gold and silver; and in some cases more so, or it would not be preferred by commercial people in different countries.
Source
gutenberg.orgBenjamin Franklin: “Any other well-founded credit, is as much an equivalent as gold and silver; and in some cases more so, or it would not…”
Editor's note · Context
Franklin suggests that well-founded credit can be as valuable as gold and silver in commerce.
Share
More from Benjamin Franklin
I apprehend, that excluding the people of the colonies from all share in the choice of the grand council will give extreme dissatisfaction; as well as the taxing them by act of parliament, where they have no representation.
Our legal method of compulsion is by imprisonment: the Indians cannot and will not imprison one another; and if we attempt to imprison them, I apprehend it would be generally disliked by the nations, and occasion breaches.
Many quarrels and wars have arisen between the colonies and Indian nations, through the bad conduct of traders, who cheat the Indians after making them drunk, &c. to the great expence of the colonies both in blood and treasure.
No part of these monies was ever paid by the proprietaries, or ever raised on their estates; and therefore they can have no pretence of right to a voice in the disposition of them.
Other voices in this conversation
