Comment: Wow! Thank you!

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Wow! Thank you!

I looked through them. I didn't find that exact quote....yet.

I did find these interesting entries.

Remarks and Facts Relative to the American Paper Money Wed, Mar 11, 1767

... Rate above-mentioned: And therefore it might as well have been said that the Silver was depreciated. There have been several different Schemes for furnishing the Colonies with Paper Money, that should not be a legal Tender, viz. 1. To form a Bank, in Imitation of the Bank of England, with a sufficient Stock of Cash to pay the Bills on Sight. This has been often propos’d, but appears impracticable under the present Circumstances of the Colony Trade, which as is said above, draw all their Cash to Britain, and would soon strip the Bank. 2. To raise a Fund by some Yearly Tax, securely lodg’d in the Bank of England as it arises, which should during the Term of Years for which the Paper Bills are to be current accumulate to a Sum sufficient to discharge them all at their original Value. This has been try’d in Maryland, and the Bills so funded were issued ...

Scheme for Supplying the Colonies with a Paper Currency Mon, Feb 11, 1765

... all Sums lodg’d in the Office, during the Time the Owner suffers it to remain there. By this means it is suppos’d the proportion will find itself, and adapt itself from time to time to the Occasions of Commerce. To keep the Value fixed, Let a Credit be rais’d with the Bank of England, and the Trustees of each Loan Office be always ready to exchange upon Demand any Quantity of the Bills, by giving for them Drafts on the Bank at a fix’d Rate of Exchange,