5407. MONEY (Continental), Redemption of.—[continued].
The soldier, victualer,
or other person who received forty dollars
for a service, at the close of the year 1779,
received in fact, no more than he who received
one dollar for the same service, in the
year 1775, or 1776; because, in those years,
the paper money was at par with silver;
whereas, by the close of 1799, forty paper
dollars were worth but one of silver, and
would buy no more of the necessaries of life.—
To M. de Meunier. Washington ed. ix, 259.
Ford ed., iv, 163.
(P.
1786)
