A few THOUGHTS concefriin'g'e proper MONEY of ACCOUNT. BY A GENTLEMAN OF VIRGINIA. ALrHO, for various reasons, what are called ilie precious Snetals lie more proper than any other commodity to be the ftand ;:rd, by>referenfce to which the value of other things maybe af certainen. yet there seems to be forrie impropriety even in this ; becaule neither gold nor silver carries the fame unchanging value frl; all times, 2nd that which is to be applied as the measure of other things ought itfel! to be fixed : It is still more improper that gold artel lilver should both be admitted rs a conm> rt standard ; because they arc not only liable to fWluate, but to fluctuate in relation to each other; yet. svhen thus admitted, tho one us thetn Ihould fink in value more thai) the other, and even tho one of them ftiOulrf have funk* while the other may have rifei) 111 value, they are e qually legal, however inconsistent, measure!. That a debt, due now, be paid at an equal value, at whatever distant time the payment be made, it lee**is necclfarv to adopt a money ol account pUfely imaginary; fdr every thing, which is real, is exposed to the danger of fluctuation: This might (rclpett ing the various denominations, or the money-unit and its parts) be framed on many different models. One, as eligible perhaps as any Qther, would be to count in units, dimes, cents, and rftills, so that each inferioi deoomination should be, to that next above it)" :i? one to tan, It may be a matter ol no great what dc- va ' ue we may think proper to mark by our money-unit ; this is in itfelf arbitrary, bnt whert orfci bv arbitrary appointmetft Jhat comes to be fixed, the rule of proportion obtains and from that fixed point gives 0 scale for every superior or inferior value; ;i|(t as the thermometer is capable of graduations infinitfly diver fified asto any particular degree of heat or cc/ld ; but wTiatcvfr df gtce you may chufefor designating any certain rc ■'l ' must be had to that throughout the whoTe scale. SOppbfe that at the prefenttime 4dwt. ol gold and 30c.. of silver fliould be of equal value, and that such value were expressed by one unit *considered merely as a measure, and not as equivalent 'tothe lhin'» meafurcd. You would thus have a Heady immutable standard'; and a not confiding of a certain quantity of gold, but of a certain vatur, measured in this imaginary money, and payable in gold or filver,w ould at every period of time retain the fame value, ivhatevermay be the intermediate fluctuations of gold, or silver, 01' other commodities.—Suppufe for instance, a debt of j5 units, S dimes, 7 cents, and 5 mills, or 15,87,5 units ; this according to' the above hypothtjis would be now equal to 307.. 3dwt. 12 grs. of gold, and to 470z. iidwt. 1» grs. of lilver, and ifprefent pay ment be made Ibould bedifcharged in that ratio ; But let silver fall in value 5 per cent, and <*old encreafe in like proportion, then the fame debt would be jultly discharged by the payment of about 30Z. :mdn|grs.of gold,or 50 or. 2 dwt. lg grs. (nearly) of fil vfr. This would be toconGdergold and silver (accordiri» to tHCir real natures) as commodities, whose vibrating valuesare climated, atvarious periods, by a fixed ftaridard. According to this idea ■we ought to forbear the co'n'nefting our imaginary unit with a certain quantity of gold or silver, by any perpetual fie ; they may, indeed, meet at particular times; but this is only an accidental Concurrence, and will not juftify the assumption of them as equi valent exprelfiom, or common measures. And if, in tHe pro gress of human affairs, differences prevail in the value d( things which once may have]been equal,or greater or lefTtr differences than fpTmerly obtained, it is surely beyond the reach of pblitical power it> alter the nature-os things ;no govcrnnicnt can by it's merfc fiat lhake that valuable among men which men do not value, or give to any thing a greater value than from genertl consent it bears. Any piece of gold or silver is received in it's currency, not as a certain value is fbmped on it by authdrity, but as it is known to Contain a certain quantity of either metal ; and wlieri goVerilnifnt unncceirarilv afligns to if a certain value,it but conforms (or ftiould conform) to the anticedent opinion and appreciation of mankind. The true use of coin seems to be nothing more tban to give a pub lic aflurance of the finenefs of the rriefal, atid the quantity of it contained in the piece at the time of doming. And if by fraud or accident (no matter which) that quantity be impaired, the value of the piece is lefiened, and it ought to be a tender for only it's pie- J'ent quantity, according to the market value of gold or silver at the time of the tender. In this arrangement of a money account I fjave made no altera tion in that lately chosen by Congress, except in the money-unit, •which I fancied it better to call units than dollars, left as the latter is the nameof a known coin, the use of that name Ibould lead us to attach to it the idea of acertain piece of money; whichthepre 3*nt plan would cautiously avoid. On a fuperficial view, it might feein to be a valid objection to such a plan, that in cases of dispute about the just amount of the payment to be made,thedebtor is deprived of the means of know ing, with certainty, what quantity of gold or silver he ought to tender, ai d the creditor what he ought to receive ; both which e vils would be avoided by measuring the debt in counter*, which Ibould also be equivalent to tV.and confequently,beingtransfered to the creditor,would prcctfely difchaige it. We ought,however, to con sider, that however certain a debt may be by the original contract disputes may afterwards arise concerning the balance, either thro' various reckonings of money paid, or various appreciations of commodities received by the creditor, where no valuation has been made of them between the parties, or there is a difference of be lief as tothe valuation made; and that those, or fomc of those things must be the mod usual source of disputation : In which cases, aud in all thole where disputes happen about the value of commodities fold, or of fei'vices performed, where they make the basis of the Jemy/d, not of the difount, and have not been by the contrast fixed in their value, it must unavoidably happen, thatthe fame objc&ion (if it beonc) will recur. And every difputt be tween debtoi and creditor, from whatever source it arise, supposes a degree of uncertainty in the quantum of the debt. On all those bpcafi'ons the debtor must take cafe to tertddr a payrrient at least adequate, and the creditor not a fender vvhch ht is not fui'C is inadequate : In that fine of conduct onfv there is fafety* if, con fideringthe various judgments of men, absolute certainty can in those cases be expelled— But if this uncertainty must be confidcr *d as ar, evil, it is an evil not peculiar to this ptah ; for every o therfiems to be exposed to it. In laying piiblic taxes of any fort, defined by fnch a measure as is here proposed, it might be convenient to define alio, by the fame flandard, the value of gpld arid silver to be received by the colleftor'r, that their emoluments may be neither more nor less than were.mtended for them, and thfe burdens of the people nei ther heavier nor lighter than the public needs require. This might be annually adjusted at the time of imposing the lax ; in which qdjufttnentv the acr.idrntal variations of the precious metals (if thei c should be any)'might be attended to, and so all those incon veniences, which would refuft frofh a permanent fixing of tliiir values, be avoided. (The remainder on Saturday.) An ESSAY on FREE TRADE arid FINANCES. (Cohcludcdfrom ou*' IdJi.J I AM of opinion 'tis quite time to quit thischildifli minia ture of councils, and adopt fonaethirig up to the full life, and pro pose foirie fyltem to our people that wffl. when 6Secuted, be cffe&ivr and fufßcient for its purpose. I imagine fiich a proposal i •would find our people full enough of sense to discuss it, candour to rpprove of it, and zeal to promote if. Eut if you will continue to believe that my high scale of tax will ftupify our people with tertor on firft fight of the dreadful, dreary object, I will seriously afc you if you are acquainted wfth one individual, think would be likely to nang-himfelf, or run di ft rafted, or give up the Ainei ican union or independence, on being told, that he nib ft fo'r the reft of his life pay a dollar a gallon tax on diftill'd spirits and wine, a duty equal to the firft cost on silks, cambricks, lawns, muftin, lace&, jewellery,., and so on thro' all the grades of the tax I propose. Or how docs the dreadful Ipe&re.affcft vour own eonftitution," does it make your own blood run cold and ftiffen in your veins. As you are mostly men of falhion and fortune, I conceive you will be as deeply in tcrefted in the tax as the most of your conftituenis, and you may pretty well judge of their feelings by your own. I do not ap prehend that your anxiety is excited at all for youi felvcs, but tor vour people ; but can't you suppose that your constituents have lenfe todifcern the neceflity and utility of a public measure, judge ment and patriotism to approve it, and firmutfsto bear the bur din ot it, as well as you. Some obje&s, when feeri through a mist, or at a distance, appear frightful and cloathcd with terrors, which all vanilh on a nearer view, and more close iiifpection. Some dis agreeable tilings, when they come home to our filings, are found .to have lefspain thandiftant expectation painted out. Lei us fup pofc and realize to ourselVes then, that my feale of tax was adopt ed and become habitual to the people, eah you imagine that the country would be thereby rendered a whit the worse, or more in convenient to live in, than if the tax was not paid ? or if you can't come quite up to this, do yOu conceive the inconveniencc of the • tax paid inthis way, by any comparison so heavy and burdensome, as the present tax on polls and estates, or any other that has ever been praftifed or proposed of equal product, would be to the peo ple at large. I do not know how far our people at large are imprefltd with a sense of the importance of our union ; it is, in my opinion, an object of the utmost weight, I conceive that the very exigence of our refpeftability abroad ; theintereft which we are to derive from our connexions with foreign nations, and our security against foreign anel domestic infuits ancf-invafions, all depend on it, and even our independence itfelf cannot be supported without it, and as I know well that the attachment of our people to their indepen dence is almost universal, f should fappofe tfat our union, which is so closely and inseparably conne&ed with it, would likcwife be an equal object of their attachment and ccmcern; if this is the cafe, I cannot be pfcrfuaded that oiir people will revolt against any lea fonable and neceflary means of both the one and the other, and as the tax I propble appears to me the only poHible and pra&icable means, any how within our power, which cah be*ade •quate to this great purpose, I cannot fay that I shudder to pro pose such a tax ; but I think We may fafelv presume on the good ienfe of our people, their patience apd discernment of their in terests, enough to expect their concurrence in the meafurt, and even chearfulnefs and zeal in firpporting it. But if\his cannot be obtained, I can add no more, I have no conception that the* Americans either are or ought to be governed against their consent or that the collection of taxes, of any kind, or in any mode, can be made with fuecefi, whilst an opinion be comes general among the people, that the tax!es are unnecessary, unjust, or improperly applied. I thlrilc it would not be very difficult to make out the defail of particulars neceflary to form the plan or system, both of the tax and iiscolleftion, on the principles herein urged ; but the whole is humbly (übinitted to the confideratioh of the public, who, I hope, are enough imprefled with the importance of thefubjeft, and the nedeflity of adopting some deciflons relating to it, with out delay, to induce eVery ot)t tb give it that attention that its nature and weight requires, and which our present critical circum stances make indispensable to oui political salvation. I do not set myielf up t.,on of the Vice PrrfdZ~ purpose. W 4 any COmmHUe lh > *»>& «™y , 0 that j On motion, Ordered, That Mr. Lee, Mr. Kllfwotth, and Mr • Few, be a conmnftee to conhder and report unon rht- r™. canons made on the 6th in ft'. from the Itavor, &c. of the cm""■ New-York, tendering to the uicot the City-Hall ' On motion, Ordered, That an addition of one from ca'ahSme not hiving a member already on the Committee, be added to t( Committee of the 7 t h of April, to bring in a brll for organW I the Judrciaryof the United States, and Mr. Carrol, and Mr l lt J were joined. Adjourned. ' TUESDAY, April I The Hon Tnltram Dalton, from the .State of Massachusetts an prared, produced his credentials, and took his feat in the Senate On the report oftlw- Committee appointed the 13thi1.fl. intake into confederation the letter and communications from the Maror o! the city of New-York, ' Ordered. That the following letter be written to the Mayor of the City ofNew-Y ork, by the Prefidtnt; and that noting farther lor the present be done in thi Imnicfi. SIR NewYorh, APRIL J4,, , 7 8 ? . THE Sena" have corf,d,red the letter that you were pteof.i to aiird, ■.tofnen Hol'ft on the 6th tnjl. and they entertiin a ptoplr seise oflhi rtf. ■ pofljhetbn to the General GovetnnreM of the United States, hi prtmdtnt Uocommodtois a building for the accommodation ofCongnfs, as the Mac- Aldermen, and Commonalty of the city hat* appropriated to that ]:!,' j The appointment of Mr. Skautt t u the 'care of the public Hull mM ic ■ very agreeihle to the Senate ; but in their idia such appointment mult J,. rjendnffma kgtjljtire aft/or creating the office, and'then theofctrtt • L II Wt ' cm " con/lit,rtitnwlly from the nomination of the Pltfidtntof i the United States, with the approbation of Stnate. in the mean turn tit Senate have no iijcßion to the Mayor ami Aldermen appointing fudttr •jott to the care ojthe nail as they deem worthy of such trill. IhUve tfie hontr tsic. &t. (Si on Eft.) The PRESIDENT of the SIN ATI. ihf Hon. James Duane, Esq. I he rules and orders as reported by the Committee were again ji read, and ordered to l«e for confederation. [ motion, a Committer, confiftmgof Mr. Read, Mr. Elfvrorth, Pand Mr. Lee, were appointed toconfider of the utility of printing • j journals weekly, and turmihm# the members -with copies; I committee are infliu&ed to determine the mode of . keeping the journals and report. Adjourned W E D N ESD AY, April 15. II Tc Committee appointed the 7th of April, to prepare a system of rules to govern the two Houses in cases of conference, to take into consideration the manner of electing chaplains, andtocon ; le. thereon with a Committee of the House of Representatives, Reported, That they had conferred on the bufmefs with a Com mittee of the House of Representatives for that purpose appointed* \\hereupon, Rejvhed\ That? in every cafe of an amendment to a bill to ' n one House, and dilTentcd to in theotber, if either House Hiall retjuefl. a conference, and appoint a Committee for that and the other House fball' also appoint a Committee to confer, such Committees a convenient-time to be agreed on by their Chairman, meet in the conference Chamber, and ibte to each other, verbally, or in writing, either shall choose, the reasons of their refpc&ive Houses, for andagainft the amendment, and Confer frdcly thereon. The Committee above mentioned further reported^ " That two Chaplains of different denominations be appointed to Congress, for the present feflion, the Senate to appoint ene, and give notice thereof to the House of Reprefentatives,who shall there upon appoint the other, which Chaplains shall commence their lervices in the Houses that appoint them, but shall interchange weekly. Which was also accepted. (To be continued.) , CONGRESS OY the UNITED STATES. Begun and hcldat the Ci ty of on Wednesday the Fouitlr of March, One Thousand Seven Hundred and Eighty-Nine. An AC I for allowing certain Compensation to the Judges of the Supreme and other Courts anit» the Attorney-General of the United States. BE it enabled by the Senate and Hon ft of Rtfn fentatives of the United States of America in Csngrtft assembled, That there shall be allowed to the judges of the supreme and other courts of the United States,the yearly compensations hereinaf ter mentioned, to wit ; to the chief juflice four thousand dollars ; toeach of the justices of the supreme court three thousand five hundred dol lars ; to the judge of the diflrici of Maine one thousand dollars ; to the judge of the iliftrict of New Hampshire one thousand dollars ; tothejudgt of the diftriCl of Maflachufetts twelve hundred dollars ; to tliejudgeof the diftri La n f., near the Ofwgp-Market. N *k • [3' •