Primary tabs
Transcription
[Page 9]
must clearly expects & the Bankers themselves are at this time prepard to submit to
The most Obvious Step as a preparatory measure is no doubt a Stamp duty of a heavy nature on Each note Issued, proportiond to the value, & Rated higher on the Small notes than on the Lower ones, Thus seizing for the Exigencies of the State, a Proportion of the unreasonable gains made by this mischevous Trafic.
The next may be to Limit within a reissue Compas [Compass], the time Each of Such Stampd notes is allowd to Continue in Circulation, which may be done by rendering Such a note no longer a debt Legaly Recoverable from the Issueer after its Regulated Its time of Circulation has Elapsed Reen, & Laying a Penalty on Every person who Shall offer a note if time run & of Course of no value, in Payment on any account whatever
if this measure which is Certainly a Strong one Should be adopted, it will at once cut off the best profits of the bankers which are derivd from their notes Continueing in Circulation & it will impede their Circula Circulation Currency