University of Virginia Library

6375. PAPER MONEY, Specie and.—

The unlimited emission of bank paper has
banished all Great Britain's specie, and is
now, by a depreciation acknowledged by her
own statesmen, carrying her rapidly to bankruptcy,
as it did France, as it did us, and will
do us again, and every country permitting
paper money to be circulated, other than that
by public authority, rigorously limited to the
just measure for circulation.—
To John W. Eppes. Washington ed. vi, 142. Ford ed., ix, 394.
(M. June. 1813)