The fact in the middle colonies is really this: on the emission of the first paper-money, a difference soon arose between that and silver; the latter having a property the former had not, a property always in demand in the colonies; to wit, its being fit for a remittance.
Franklin notes the differences in demand between paper money and silver in the colonies.
Share
More from Benjamin Franklin
By our greatly encreasing the demand and consumption of British manufactures, their price is considerably raised of late years; the advantage is clear profit to Britain, and enables its people better to pay great taxes; and much of it…
That compelling the colonies to pay money without their consent, would be rather like raising contributions in an enemy's country, than taxing of Englishmen for their own public benefit.
For a piece of baize, or a pot full of brandy, or the like, they could get a piece of ground, which at present would be worth more than 290l. sterling." Ib.
Believing therefore, that it is my duty, I shall honestly speak my mind in the following paper.
Other voices in this conversation
