Resolved, That Mr. J. Adams, Mr. J. Rutledge, Mr. Duane, doctor Franklin, and Mr. Wilson, be a committee to get proper plates engraved, to provide paper, and to agree with printers to print the above bills.

FRIDAY, April 19, 1776.

Resolved, That a committee of seven be appointed to examine and ascertain the value of the several species of Gold and Silver Coins, current in these colonies, and the proportions they ought to bear to Spanish milled dollars:

The members chosen, Mr. Duane, Mr. Wythe, Mr. J. Adams, Mr. Sherman, Mr. Hewes, Mr. Johnson, and Mr. Whipple.

MONDAY, September 2, 1776.

The committee to whom was recommitted the report for ascertaining the value of the several species of Gold and Silver Coins current in these States, and the proportion they and each of them ought to bear to Spanish milled dollars, brought in their report which was read. Ordered, To lie on the table.

lings Sterling, at forty-eight Shillings: A Moidore at thirty-six Shillings: A Pistole of full Weight at twenty two Shillings: Three English Farthings for one Penny; and English Half Pence in greater or less Numbers in Proportion.

And be it further enacted, That if any Person within this Government shall after the thirty-first Day of March One Thousand seven Hundred and fifty, for the discharge of any Contract or Bargain, account, receive, take or pay any of the several Species of Coins before mentioned at any greater or higher Rate than at which the same is hereby regulated, settled and allowed to be accounted, received, taken or paid, every Person so accounting, receiving, taking or paying the same contrary to the Directions herein contained, shall forfeit the Sum of fifty Pounds for every such Offence, one Moiety thereof to his Majesty for the Use of this Government, the other Moiety to such Person or Persons as shall sue for the same; to be recovered with full Costs of Suit by Action of Debt, Bill, Plaint or Information in any of his Majesty's Courts within this Province.

Provided always, and it is hereby declared, That nothing in this Act shall be understood to restrain any Person or Persons from accounting, receiving taking or paying any of the abovementioned Species or Coins in discharge of any Debts, Contracts or Bargains made before the thirty-first Day of March One Thousand seven Hundred and fifty, at the following Rates, viz. For any Debt contracted before the said thirty-first Day of March, and understood to be payable in Bills of the old Tenor in such Proportion higher or greater than the Rates set at in this Act, as forty five Shillings is to six Shillings; and for any Debt contracted before the said thirty-first day of March, and understood to be payable in Bills of the middle Tenor or Bills of the new Tenor, in such Proportion higher or greater than the Rates set at in this Act as eleven Shillings and three Pence is to six Shillings: Any Thing in this Act to the contrary notwithstanding.]

REPORT OF A COMMITTEE APPOINTED APRIL 19, 1776, TO ASCERTAIN THE RELATIVE VALUE OF CURRENT SPECIE, AND ITS RELATION TO THE SPANISH MILLED DOLLAR, ETC.

[From MS. Reports of Committee on Finance, vol. 26.]

The committee appointed on the 19th April to ascertain the value of the several species of Gold and Silver current in these Colonies, and the proportion they and each of them bear and ought to bear to Spanish milled dollars, have taken the same into consideration and thereupon came to the following resolutions:

Whereas the holders of bills of credit emitted by authority of Congress will be entitled, at certain periods appointed for redemption thereof, to receive out of the treasury of the United Colonies the amount of the said bills in Spanish milled dollars, or the value thereof in Gold or Silver, and the value of such dollars, compared with other Silver and with Gold Coins, is estimated by different standards in different Colonies, whereby injustice may happen in some instances to the public, as well as to individuals, which ought to be remedied.

And whereas the credit of the said bills as current money ought to be supported by the inhabitants of these Colonies, for whose benefit they were issued at the full value therein expressed, and who stand bound to redeem the same, according to the like value and the pernicious artifices of the enemies of American liberty to impair the credit of the said bills by raising the nominal value of Gold and Silver ought to be guarded against and prevented: Therefore,

Resolved, That the several Gold and Silver Coins passing in the said Colonies shall be received into the public treasury of the Continent, and

paid out in exchange for bills emitted by authority of Congress, when the same shall become due, at the rates set down in the following table:

NOTE.-The Gold coins here mentioned which were actually in circulation were in all probability worn below full weight, while it seems quite certain that the Silver coins, notably the English coins, were in a particularly bad condition in this respect. Hence from the above table it is difficult to decide what ratio was established by this the first legislation on the subject by the United States. The relation here indicated between English guineas and English crowns, supposing them to be of full weight, is nearly the English legal ratio of 15.21.

The rate given further on for bullion is very near this ratio, but the fineness of the Silver not being given, it is impossible to know with certainty; if the fineness be that of the Spanish dollar then lately coined,, it was a little above. If it is that of English standard Silver, 33, it was a little below 15.21 to 1.-H.

Resolved, That a deduction at the rate of one twenty ninth part of a dollar p. grain shall be made on all Gold Coins falling short of the weight specified in the aforesaid table, and an advance at the same rate shall be allowed on such as exceed the aforesaid weight.

Resolved, That all parts of the several Gold Coins before enumerated shall be rated in just proportion according to the foregoing table, and that Gold in Bullion shall be at the rate of seventeen dollars per ounce Troy weight. Sterling Alloy and Silver at one dollar and one ninth of a dollar per ounce.

Resolved, That all bills of credit emitted by authority of Congress ought to pass current in all payments, trade and dealings in these Colonies, and be deemed equal in value to Gold and Silver, according to the rates set down in the foregoing table; and that whosoever shall offer, demand, or receive more in the said bills for any Gold or Silver coins, or bullion, than at the rates aforesaid, or more of the said bills for any lands houses goods wares or merchandise than the nominal sums at which the same might be purchased of the same person with Gold or Silver, every such person ought to be deemed an enemy to the liberties of these Colonies, and treated accordingly, being duly convicted thereof before the committee of inspection of the city, county or district or in case of an appeal from their decision, before the assembly convention council or committee of safety or before such other persons or courts as have or shall be authorized by the general assemblies or conventions of the Colonies respectively to hear and determine such offenses.

FROM THE JOURNAL OF CONGRESS.

FRIDAY, December 19, 1777. Congress took into consideration the report of the board of war of the 12th, and thereupon, came to the following resolution:

Whereas, Sir William Howe, commander in chief of His Britannic Majesty's forces, has required that provisions should be sent in for the subsistence of the American prisoners in his possession, and for the purchase of such necessaries as they may stand in need of, and has prohibited the circulation of the Money struck by the authority of these States, within such parts of the country as are at present subjected to his power; whereby great difficulties have occurred in relieving the distresses of the American prisoners; and whereas large sums of Continental bills of credit have been counterfeited and issued by the agents, emissaries and abettors of Sir William Howe:

Resolved, That the accounts of all provisions and other necessaries which already have been, or which hereafter may be supplied by the public to prisoners in the power of these states, shall be discharged by either receiving from the British commissary of prisoners or any of his agents, provisions or other necessaries, equal in quality and kind to what have been supplied, or the amount thereof in Gold and Silver, at the rate of 4 shillings and sixpence for every dollar of the currency of these states: and that all these accounts be liquidated and discharged, previous to the release of any prisoners to whom provisions or other necessaries shall have been supplied.

THURSDAY, August 27, 1778.

Resolved, That a committee of five be appointed to consider the state of the money and finances of the United States, and report thereon from time to time: the members chosen, Mr. R. Morris, Mr. Gerry, Mr. R. H. Lee, Mr. Witherspoon, and Mr. G. Morris.