Page:Notes on the State of Virginia (1802).djvu/249

Rh The firſt ſymptom of the depreciation of our preſent paper-money, was that of ſilver dollars ſelling at ſix-ſhillings, which had before been worth but five ſhillings and nine pence. The aſſembly thereupon raiſed them by law to ſix ſhillings. As the dollar is now likely to become the money-unit of America, as it paſſes at this rate in ſome of our ſiſter ſtates, and as it facilitates their computation in pounds and ſhillings, & e converſo, this ſeems to be more convenient than its former denomination. But as this particular coin now ſtands higher than any other in the proportion of 133⅓ to 125, or 16 to 15, it will be neceſſary to raiſe the others in proportion.

 

HE public income and expences?

The nominal amount of theſe varying conſtantly and rapidly, with the conſtant and rapid depreciation of our paper-money, it becomes impract i cable to ſay what they are. We find ourſelves cheated in every eſſay by the depreciation intervening between the declaration of the tax and its actual receipt. It will therefore be more ſatisfactory to confider what our income may be when we ſhall find means of collecting what our people may ſpare. I ſhould not eſtimate the whole taxable property of this ſtate at an hundred millions of