The Complete Works in Philosophy, Politics and Morals of the late Dr. Benjamin Franklin, Vol. 3 [of 3]

By Benjamin Franklin

Page 108

of
their fish, kept them supplied with a currency; till the late war
furnished them and all America with bills of exchange; so that little
cash was needed for remittance. Their fisheries too furnish them
with remittance through Spain and Portugal to England; which enables
them the more easily to retain gold and silver in their country. The
middle colonies have not this advantage; nor have they tobacco; which
in Virginia and Maryland answers the same purpose. When colonies
are so different in their circumstances, a regulation, that is not
inconvenient to one or a few, may be very much so to the rest. But
the pay is now become so indifferent in New England, at least in
some of its provinces, through the want of currency, that the trade
thither is at present under great discouragement.

The 4th reason is, "_That every_ medium of trade _should have an_
intrinsic value; _which paper-money has not_. _Gold and silver are
therefore the fittest for this medium, as they are an equivalent;
which paper never can be."_ However fit a particular thing may be
for a particular purpose; wherever that thing is not to be had,
or not to be had in sufficient quantity; it becomes necessary to
use something else, the fittest that can be got, in lieu of it.
Gold and silver are not the produce of North America, which has no
mines; and that which is brought thither cannot be kept there in
sufficient quantity for a currency. Britain, an independent great
state, when its inhabitants grow too fond of the expensive luxuries
of foreign countries, that draw away its money, can, and frequently
does, make laws to discourage or prohibit such importations; and
by that means can retain its cash. The _colonies_ are dependent
governments; and their people having naturally great respect for
the sovereign country, and being thence immoderately fond of its
modes, manufactures, and superfluities, cannot be restrained from
purchasing them by any province law; because such law, if made,
would immediately be repealed here, as prejudicial to the trade and
interest of Britain. It seems hard therefore, to draw all, their
real money from them, and then refuse them the poor privilege of
using paper instead of it. Bank bills and bankers notes are daily
used _here_ as a medium of trade, and in large dealings perhaps the
greater part is transacted by their means; and yet _they_ have no
intrinsic value, but rest on the credit of those that issue them;
as paper-bills in the colonies do on the credit of the respective
governments there. Their being payable in cash upon sight by

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Text Comparison with Autobiography of Benjamin Franklin

Page 2
Happening once to put her king into prize, the Doctor took it.
Page 18
There was a salt-marsh that bounded part of the mill-pond, on the edge of which, at high water, we used to stand to fish for minnows.
Page 58
He had formerly been in business at Bristol, but failed in debt to a number of people, compounded and went to America.
Page 67
any crown I have since earned; and the gratitude I felt toward House has made me often more ready than perhaps I should otherwise have been to assist young beginners.
Page 72
I was bred a farmer, and it was a folly in me to come to town, and put myself, at thirty years of age, an apprentice to learn a new trade.
Page 76
Mrs.
Page 78
It might, too, be much better done if I were at home among my papers, which would aid my memory, and help to ascertain dates; but my return being uncertain, and having just now a little leisure, I will endeavour to recollect and write what I can; if I live to get home, it may there be corrected and improv'd.
Page 98
Barnabas.
Page 104
I became his zealous partisan, and contributed all I could to raise a party in his favour, and we combated for him awhile with some hopes of success.
Page 107
We had from the beginning made it a rule to keep our institution a secret, which was pretty well observ'd; the intention was to avoid applications of improper persons for admittance, some of whom, perhaps, we might find it difficult to refuse.
Page 114
Partnerships often finish in quarrels; but I was happy in this, that mine were all carried on and ended amicably, owing, I think, a good deal to the precaution of having very explicitly settled, in our articles, everything to be done by or expected from each partner, so that there was nothing to dispute, which precaution I would therefore recommend to all who enter into partnerships; for, whatever esteem partners may have for, and confidence in each other at the time of the contract,.
Page 116
We bought some old cannon from Boston, but, these not being sufficient, we wrote to England for more, soliciting, at the same time, our proprietaries for some assistance, tho' without much expectation of obtaining it.
Page 118
He expressed much sorrow that it had ever been propos'd, as he said _Friends_ were all against it, and it would create such discord as might break up the company.
Page 125
They promis'd this, and they kept their promise, because they could get.
Page 133
Some may think these trifling matters not worth minding or relating; but when they consider that tho' dust blown into the eyes of a single person, or into a single shop on a windy day, is but of small importance, yet the great number of the instances in a populous city, and its frequent repetitions give it weight and consequence, perhaps they will not censure very severely those who bestow some attention to affairs of this seemingly low nature.
Page 151
They had therefore dug holes in the ground about three feet diameter, and somewhat deeper; we saw where they had with their hatchets cut off the charcoal from the sides of burnt logs lying in the woods.
Page 165
He caus'd them to be regularly examined by the proper officer, who, after comparing every article with its voucher, certified them to be right; and the balance due for which his lordship promis'd to give me an order on the paymaster.
Page 168
"--Mr.
Page 174
He's rarely _warm_ in Censure or in Praise: _Good-Nature, Wit_, and _Judgment_ round him wait; And thus he sits _inthron'd_ in _Classick-State_: To Failings mild, but zealous for Desert; The clearest Head, and the sincerest Heart.
Page 187
Mean while, it spreads in the Gevaudan; and two large Villages in the Neighbourhood of Frejus were attack'd the beginning of this Month.