Page:The Life of George Washington, Volume 1.djvu/319

 INTRODUCTION. 289 his first addresses to them of the bad state of chap. vim. trade, which he ascribed to the scarcity of 17 16. money; and he recommended the considera- tion of some effectual measures to supply this want, and thereby to restore trade to a flourish- ing condition. A second loan of one hundred thousand pounds for ten years was determined on, to be placed in the hands of commissioners in each county, in proportion to the taxes payable therefrom. The consequence was, that the whole currency soon depreciated to such a degree, that the entire sum in circula- tion did not represent more real value, than was represented by the medium circulating before this emission. The governor had now sufficient leisure, and the general court fur- nished him with sufficient motives, to reflect on the policy he had recommended. They refused to raise his salary as the money depre- ciated, and only voted for his support, the nominal sum they had been accustomed to give. In the beginning of the last year, the governor. had given his assent to a bill imposing a duty on English tonnage, and on English manufac- tures imported into the colony. For assenting to this measure, which was afterwards deemed both by himself and his council contrary to his instructions, he had been severely censured by the minister. A similar bill being again sent up by the house of representatives, it was vol. 1. p p