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[Page 2]
The most necesary may it be judged expedient, that the Bank do, for the Reason before alledgd, resolve to asign to the holders of these dollars the same value for them in circulation, as they could obtain by selling them as Bullion.
This may be done by a notice that the Bank will Recive all dollar Tokens Issued by them at the Rate of 5/6? each being as near as may be the value of the Silver they contain & that they will in Future Rate all such dollars that they shall issue or otherwise pay away at the same value, Reserving to themselves the Power of Lowering the said Rate in Case the Price of Silver should shall fall to the original value of 5/- but no Lower
Such a principle once establishd would form a precedant for obundance. of future proceeding it is now clear that the Precious metals cannot any longer, in a Trading Company, answer the purpose of a fix'd standard of value, The sooner we begin & use them as a variable standard the better for as soon as the nation has been made to understand the return of the Practice by the the example of the variatons of the Price value of dollars, Posibly in a few months, silver & gold Coinage on the same plan may be carried on & a metallic medium in a Short time restord to the People a [measure?] of incalculable importance as the danger of an alarm from our inveterate enemy & a Subsequent [indecipherable] of the People, ought never to be out of our recollections for a moment