| | 1 | Author: | Brock: Glen, James | Add | | | Title: | South Carolina: Governor James Glen to the Board of Trade, July 13, 1751 (excerpt) / by James Glen  | | | | Published: | 2000 | | | | Subjects: | University of Virginia Library, Text collection | UVA-LIB-Text | | | | Description: | I shall endeavour to give your Lordships entire satisfaction as to that
part of your Letter with regard to the present state of our Paper
Currency and Publick Orders. You are pleased to say that the Report
which I formerly transmitted differs from an Account which you have had
prepared for your use, and you desire that I may explain the reason of
their differing. I have compared the two States and I cannot perceive
the least difference, except that the Account sent from hence descends
lower in point of time, and consequently comprehends more of the Publick
Orders that have been cancelled than the account that has been prepared
for Your Lordships in London neither does that account seem to take any
notice of the Publick Orders issued in consequence of an Act passed on
the 20th of August 1731 the Committee I presume thought it
necessary to be particular as to the different Periods at which the
several Sums of the legal Currency were issued, some part having been
cancelled, that have only said in general that the Sum of £106,500
amounting to £15,214: 5: 8 1/2 Sterling in the Year 1731, and being
of the same value at present, is still outstanding, and your Lordships
take notice that your state of these Bills
of Credit agrees exactly with that sent from hence, and that in
the year 1739 there remained then outstanding without any funds for
calling it is precisely the same Sum of £106,500 Currency. And the
reason I presume that took notice of the Publick Orders issued in 1731
and the £63000 orders issued in 1742, in the body of the Account, was
because that some small part of them was still uncancelled But your
Lordships may perceive by the printed account then sent over, and which
I now again transmit, that on the 5th of March 1736 there was
issued the sum of £35,010, which agrees with the 1st
Article in Your Lordships State of the Publick Orders, that on the
5th of April 1740 there was issued £25,000 which agrees
with the second Article and by an Additional Act on the 19th
of Sept the same year there was issued £11,508 agreeable to your
third Article, the Sum of £63,000 issued in 1742, which makes the
4th Article of Your Lordships State, is contained above in
the body of the Account, as some part of it is still uncancelled, and in
May 1740 £20,000 was issued, which is the 5th Article
taken notice of by Your Lordships. Those several Sums in the Committees
State (Exclusive of the Orders of 1731) make together the Sum of £150,
518, and Your Lordships may be assured
that as much was then sunk as is set forth in that Report, and
that since that Report was made there have also been cancelled above
£1000 of the Publick Orders of 1731 and £12,600 of the £63,000
Orders for the Year 1749 and 1750, So that all the Publick Orders that
have ever been issued from the beginning of the Government to this time,
there remains uncancelled no more than £12,600 Currency, which is not
£2000 Sterling, Except about £50 Sterling of the Orders of 1731,
and a few of the Orders in 1740, which I presume have been lost or
accidently destroyed, for I see none circulating, and for Exchanging of
which should they appear, there is equal Sums of legal Currency lock'd
up in the Publick Treasury, and except also £12,600 of the £63,000
Orders which will be sunk by the two succeeding Taxes. | | | Similar Items: | Find |
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