That in the middle colonies, where the credit of the paper-money has been best supported, the bills have never kept to their nominal value in circulation; but have constantly depreciated to a certain degree, whenever the quantity has been increased.
Franklin observes that paper money in the middle colonies has consistently depreciated in value when its quantity increased.
Share
More from Benjamin Franklin
Yet had I gone at 70, it would have cut off 12 of the most active years of my life, employed too in matters of the greatest importance; but whether I have been doing good or mischief, is for time to discover.
They have no profitable appointments, but a mere payment of daily wages, such as are scarcely equivalent to their expences, so that having no chance for great places and enormous salaries or pensions, as in some countries, there is no…
If the treaty cannot be made as much to your advantage as to ours, don't make it.
As it is in my power, as far as my testimony will be regarded, to refute this charge, I think it due to our friendship to do it.
Other voices in this conversation
