State of the Paper Currency in the British Plantations. [From P. R. O. B. T. Plantations General, Vol. X, N 40.] Abstract from the Several Accounts [of the Paper Currency] returned by the Gov's of the said Plantations to the Lords Commiss for Trade & Plantations, and by their Lordsps laid before both Houses of Parliament in March and April 1740. NEW JERSEY. We do not find that any Paper Mony was Issued in New Jersey, before 1709 in which Year An Act passed for Issuing the Sum of £3,000 5,000 4,670 40,000 20,000 40,000 The best Information We can obtain in regard to the real Value of these Bills, at or near the times of their being Emitted, is by a Letter from Mr Morris the Present Gov of that Province dated May y 26th 1739 inclosing An Address from a Committee of the Council of that Province on this Subject wherein it is asserted that from the Year 1709, to 1714 the Exchange was £150 Paper Mony for £100 Sterling and rose gradually from 1714 to 1739 to £165 Paper Money for £100 Sterl: and that when the said Gov's Letter came away the Exchange was risen to £170 Paper Money for £100 Sterling All the said Paper Mony Issued by the first four Acts of 1709, 1711, 1716 and 1723 has been called in and Sunk as was directed by the said Acts and all the Paper Mony now Current in that Province is £60,000 Issued pursuant to the Acts of 1730 & 1733 and is now worth about £35,300 Sterl: This was laid before the Parliament Report of Robert Dinwiddie to the Lords of Trade— on the Trade of the British Empire in America. [From P. R. O. B. T. Plantations General, Vol. X, N 45.] A Computation of the Value and Trade of the British Empire of America; As also, An Account of the Number of Fighting Men in each Colony or Plantation. By Rob Dinwiddie Esq and by him presented to the Board April 29th 1740 To the Right hon'ble the LORDS COMMISSES for TRADE and PLANTATIONS. MY LORDS' I have been at a great deal of Trouble and Expence to inform Myself of the Trade of his Majesty's American Empire, and the annuall amount of the National Produce of each Colony or Plantation: I give You the following Thoughts, Observations and Calculations, which is partly from my own knowledge and from the best informations I possibly could get; If it's thought worthy your Notice, it will fully ans, my hopes. I shall therefore, to make it Somewhat regular, first, First-Give You an Account of the number of Vessells belonging to his Majesty's Subjects in America, distinguished by each respective Colony, beginning with Newfoundland and ending with Barbados. Secondly-An Account of the number of Vessells belonging to Great Britain and Ireland trading to the American Colonys and Plantations. Thirdly-An Estimate of the Value of the Vessells belonging to America, and those trading from Great Britain and Ireland thereto. Fourthly-An Account of the Amount of the naturall Produce of each Plantation by the improvement and manufacturing of the British Subjects in those Parts. Fifthly-An Estimate of the amount of Goods from Great Britain and Ireland annually carried to the Plantations in America, and to the Coast of Guinea. Sixthly-The amo of Cash, Dye Woods, Druggs, Cacoa &c: brought into our Plantations, being the Consequence of a Trade with Spanish and French Colonys. Seventhly-The whole brought into an Account, by which You will be able to observe the considerable Value of our American Trade. I then shall endeavour to give an Acco; of the number of Subjects in each Colony fitt to carry Arms, this entirely from Information, and then the Account of Slaves used in the Sugar Plantations, their Value and Value of the Works & necessary for Sugar Plantations. First-Is Account of the Vessels belonging to his Majestys Subjects in America distinguished by each Colony, beginning at Newfoundland and ending at Barbados Belonging to Newfoundland, The Government of New England Vessells of Vessells 25 750 350 In Connecticutt and Rhode Island in foreign Trade 260 In Ditto used in Fishing and Coasting Sloops} 150 In New York and Jerseys, in foreign Trade and in Coasting &c: 60 In Pensylvania and the lower Countys 70 You'll Please to observe there is two thousand and thirty five Sail of Vessells of all Dimensions and Denominations, belonging to his Majesty's Subjects in America, which, I believe, is rather under than above the exact number, But must notice that upwards of five hundred of them are small and used in the Fishery and Coasting Trade, which will be noticed when we come to the Valuation of them. Secondly-Here follows the Account from information of the Ships &c: Trading to and from America belonging to Great Britain and Ireland distinguished by the Trade they are concerned in. To Newfoundland with the Fisherman and those employed in carrying Fish to the diff Markets To New England and Nova Scotia To Connecticutt and Rhode Island To New York and the Jerseys To Pensylvania To Maryland Vessells 80 20 6 8 10 95 Add to the above One hundTM and fifty Sail from 150 1050 Thirdly-An Estimate of the Value of the Vessels belonging to the Subjects of America, and Those belonging to Great Britain and Ireland Trading to the diff: Colonys &c: 1065-Ships, Snows and Brigantines be longing to the American Subjects a medm £1000 St: each is .970-Sloops and Schooners of smaller Size and Burthen, valued one wth the .900-Ships, Snows & from Great Brit and Ireland to and from the Plan tations, valued at £1,200 each .150-Ditto from Great Britain and Ireland to the Coast of Guinea and the Plantations, with extraordinary Outfitts £1500 Ea: 3,085 Sail 1,065,000 .388,000 1,080,000 225,000 £2,758,000 Fourthly-An Estimate of the Natural and Improved annuall Produce of his Majesty's American Colonys and Plantations, distinguished into each Colony or Plantation. Newfoundland by Fish and Oyl £100,000 |