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 manned by the hardy seamen of the coasts; but Aristopia furnished their cannon, powder, shot, sails, and cordage.

The fund furnished by Charles Morton supplied the commonwealth with the gold and silver needed to pay for all she bought outside of her own borders; inside those borders the public revenues paid for all. The other colonies had followed the example of Aristopia in issuing paper-money, but not with the same success, for their paper money depreciated badly, while that of Aristopia was always at par with gold and silver. Her paper-money was confined to its proper use as a medium of exchange; that of the other colonies was used as evidence of a debt the payment of which was very doubtful. In Aristopia paper-money was not, as in the other colonies, an expedient to escape from the pinch of the poverty of today by a promise to be met with the hopedfor wealth of to-morrow.

In case of a great war, it is common to say: "These burdens are too great for us to bear alone; let posterity share them, for they are borne as much for the benefit of posterity as for ourselves. Let us go in debt and let the future pay the debt." The financiers of Aris-