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and great effect, of operating as a tax, and perhaps the most equal of all taxes, since it depreciated in the hands of the holders of money, and thereby taxed them in proportion to the sums they held and the time they held it, which generally is in proportion to men's wealth. Thus, after having done its business, the paper is reduced to the sixtieth part of its original value. Having issued 200 millions of dollars the congress stopped, and supplied themselves by borrowing. These sums were borrowed at different periods during the progress of the depreciation; those, who lent to the public, thereby fixed the value of the paper they lent, since it is to be repaid in silver according to its value at the time of the loan. The rest went on depreciating; and the depreciation is at length only stopped by the vast nominal sums called in easily by taxes, and which will be by that means destroyed. Thus so much of the public debt has been in this manner insensibly paid, that the remainder, which you desire to know, does not exceed six millions sterling. And now they are `working with new paper expressed to be equal in value to silver, which they have made to bear interest; and I have provided such funds to pay that interest, that probably its original value will be supported. In the mean time the vigor of their military operations is again revived, and they are now as able, with respect to money, to carry on the war, as they were at the beginning, and much more so with regard to troops, arms and discipline. It is also an increas ing nation, sixty thousand children having been born annually in the United States since the beginning of the war; while their enemies are said to be diminishing. I am, sir, &c. B. FRANKLIN.

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FROM DR. JEBB TO DR. FRANKLIN.

Proposal of a federal union between America and England -British parliament, &c.

London, Oct. 11, 1780, 2:1

The consciousness of a sincere desire to promote the interests of human kind, as far as my confined abilities and humble station will permit, induce me to give you my sentiments upon a subject which, I have no doubt, is ever present to your thoughts. Excuse the presumption; the intention is honest; let this consideration compensate for the want of every other qualification. Independent in my principles, and unconnected with party, I speak those sentiments, which circumstances appear to me to dictate, and I speak them without reserve.

A federal union between America and England, upon the broad basis of mutual convenience, appears to me a point of so much consequence, that I cannot conceive, in the present circumstances, how either country can fully enjoy the means of happiness, which indulgent Providence has poured, forth on each with so much profusion, unless such union immediately take place.

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I also am persuaded, that the present war, between this country and the house of Bourbon, is of so peculiar a kind, that no solid reason can be assigned for its continuance, a moment after America and England shall cordially agree upon a termination of their dispute.

It is obviously for the advantage of England, that America

قديسلم

An eminent physician and a great philanthropist: brother of Sir Richard Jebb,-Died, in 1786. His Miscellaneous Works were published in 1787..

should employ her manufacturers, and that her fleets should have free access to the shores, from whence she derived those sources of strength, which enabled her so long to reign the unrivalled mistress of the deep..

On the other hand, the rising states of America, wisely intent on such measures, as tend to increase their population, and perfect those forms of civil polity, which, at the same time that they promise internal security and happiness, will probably establish an asylum for the rest of mankind, must derive considerable advantage from the free importation of those articles, which, in their present circumstances, they cannot with convenience manufacture themselves.

And why should England envy to France and Spain, nay, to all the world, that portion of trade, whatever that be, which suits the circumstances of each power; and from which all deriving the sources of rational enjoyment would, perhaps, remain in the same ratio as at present, with respect to relative strength?

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How strange therefore to persevere in an appeal to arms, when neutral interest, and the ties of blood, the sameness of religion, language, and laws, so loudly call for peace! We might reasonably have hoped, that in the course of eighteen centuries the gospel of peace might have suggested to us a more rational mode of terminating our contests,

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As it never was the interest, so neither was it in fact the inclination of the English people, to break the bonds of union with their American brethren, until seduced thereto by the arts of designing men. Their motives I leave to themselves they will be revealed in their day,

Had the English people been equally represented in an annual parliament, that parliament, acting in strict conformity with the interests of its constituents, would have seen that every consideration required, that the bond of union be

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tween the countries should be preserved inviolate. It would have perceived, that those restrictions, which were the offspring of the occasion, or suggested by narrow systems of policy, ought to have been removed, the moment that they occasioned the first murmur of complaint. But unhappily for England, the love of arbitrary sway so far operated upon those, who most are exposed to its temptations, as to engage them in the desperate measure of deluding one half of the empire, in order to subjugate the rest.

The period of this delusion, however, is now rapidly advancing to its termination. Calamity has brought home the perception of the consequences, attendant upon national error, to every private breast. It has taught us wisdomand has begun to humanise our hearts. The many are now ready to exclaim, in the expressive language of scripture, "We are verily guilty concerning our brother, in that we saw the anguish of his soul when he besought us, and we would not hear; therefore is this evil come upon us.'

But although the people are disposed to accommodation, a mighty power continues to oppose itself to the general wish. :

And were the aristocratic strength of our constitution to prevail in its conflict with that power, I am far from being satisfied, that a general and permanent pacification would be the result.

The restoration of the English constitution to its primeval purity, appears to be an essential preliminary to an honorable and lasting peace.

Peace and war are relations which the inhabitants of dif ferent countries stand in to each other. In this sense the people of America are not at war with the people of Eng land. The latter having lost their power of self-government are merely the instruments of administration. The present

war is a war between the people of America and the adminis tration of this country. Were the inhabitants of this country restored to their elective rights, and other constitutional franchises, a state of peace would immediately ensue.

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Upon this idea alone can America have a proper security for the due observance of that solemn compact, which I should rejoice to see established between my native country and her free and independent states.

The supporters of the septennial bill, at the time that ruinous and unconstitutional measure took place, strongly insisted upon the advantage that would ensue from that increased confidence, which foreign nations would thenceforth repose in us, on account of the consequent stability of our public counsels.

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Experience has shown this measure to have been founded in policy the most unwise.

Reason surely dictates, that the confidence which nations. repose in each other's public counsels, must be the greatest, when the agents speak the real sentiments of their constituent bodies.

It is also to be considered, that the change of sentiment, in the constituent body of the nation, must unavoidably be gradual, as general interest, always slowly unveiling itself, shall direct. Whereas the agent, who has a permanent estate in his office, will vary his conduct in conformity to the quick revolutions of those numerous temptations to which views of private interest, and prospects of power hourly expose him.

For England therefore to be free, and to regain the confidence of nations, her parliaments must be free and independent and the same measure which gives independency to the English parliament will, under God's providence, restore to us peace with America and with all the world.

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