The order of the councell as they now stand, and their numbers in each Division are as follows, viz their Rank for the Eastern Division. 1 John Hamilton 3 James Allexander, who Rank for the Western 2 John Reading Quakers 8 Peter Baynton appointed by me and makes the 7th Residing Councell As the Councell Stood in his Majesties Instructions to me, there was Eight of the Eastern, and but four of the western division, at which those of the western division seem'd to express some dissatisfaction; but, by the death of M Hooper, and the dismission of the others, if his Majestie approves of it, and of the nomination of M Baynton they are now equall, or rather superior; M: Allexander rarely (as yet) attending.—If they stand as they do, there will still two be wanting in each division to make up the Number of twelve in the whole. In the western Division there are not so many fit for that Station who dwell conveniently to be got together (that are not quakers) as in the Eastern; and it being difficult (even as they now Stand to get a councill to meet, I humbly recommend Archibald Home the Deputy Secretary for one of them; his Office as clerk of the councill obliging him to A Constant attendance, and will render the having a full councill more practicable than it has hitherto been; but, how far your Grace will think it fit, that he Should rise in rank, in case of death, departure, or Suspention of other (he not desiring or expecting it) is Submitted. The other I presume to recomend for this western division is John Allen the present Treasurer of it. I well know the man he has the character of a very honest man. As to the Eastern division, the generall proprietors of the Soyle Seem to expect a Share with others in the Administration and its said some of them are somewhat uneasy on that score. to take off any uneasyness of that kind I recomend Richard Ashfield who ownes A whole proprietie or 24th part of the Eastern Division & something more. I take him to be an honest man and very firm in the Interest of the present Government; as indeed are all I recom'end The other Vacancy in the Eastern Division I recommend to be fill'd by Edward Antill; he is a man of good Estate & Sence, and if admitted to that board, I hope and believe will prove an usefull and deserving member of it. But this and every thing Else Propos'd by me is most humbly submitted by My Lord Your Graces Most Obedient and most humble Servant LEWIS MORRIS. [The Collections of the New Jersey Historical Society, Vol. IV, published 1852, contains all the correspondence of Governor Morris, preserved in the library of the Society; it will be found, therefore, that it has been deemed unnecessary, with very few exceptions, to reproduce in this series the documents contained in that volume; as a reference to them there, attended, as they are, by much explanatory matter, will be of greater service than the documents alone would be if reprinted here.-ED.] Communication from Captain Thomlinson to Secretary Thomas Hill-inclosing Schemes for putting the paper money in America on a better footing. [From P. R. O. B. T., Plantations General, No. 11, N. 49.] To Thomas Hill Esq' at Whitehall Sir Since I had the Honour of Waiting on the Lords Commiss for Trade & Plantations on the affair of Paper Money in America, I have turn'd my thoughts that way, And indeed I think it is a most dificult affair, and of no less consequence to the plantations and all of us that are concern'd with them, Therefore I have inclosed you the outlines of a Scheme, that may very easily be carried into execution, and for anything I can yet See, If it is duely Executed may produce a general good. If their Lordships think it worthy of Consideration and any thing therein Should want to be explain'd, I will upon the least notice wait upon their Lordships, and am with great Truth. Sir Your most obed' humb' Serv Great Trinity Lane 29th Oct 1740. For want of a Staple in our Northern American Colonys, it is Impossible for Silver or Gold to continue to be a Medium, Therefore Somthing else must be Substituted in it's Stead. And I humbly apprehend what in such case is now to be done is, First, To call in all the outstanding Bills of Credit in those Colonys, at the appointed time, in the easiest and best manner. Secondly, To proportion a Sum for the Currency of each Colony, Sufficient to Carry on the Trade and Business of the Said Colony. Thirdly, To put that Medium upon Such a foundation that it's value shall not alter, but Shall continue to hold the Same proportion to Sterling Silver so long as it shall be allowed to pass. Fourthly, To reduce or bring the Currency as near Proclamation Money as possible, and in the easiest & Best Manner. -Now the Method I would propose for doeing all This, is as follows I would Suppose a Colony whose Taxes amounts to about £3000 p' An" Bills of credit at the present rate of 28s per ounce Sterling Silver, and the Sum of £67275 of the Same Bills of credit would be a Currency Sufficient to carry on the Trade & Business of the Said Colony. 1st That £67275 in Bills of Credit, at the rate of 28s p'oz Ster Silver Should be Struck off, from Bills of 1s to Bills of £5 (as usual) to be a currency for Twelve Years, and no longer;-And That £24000 of Said Bills of Credit Shall be emed'ately Signd, and lent out upon good Land Security, not more than £1000 to any one person, or less then £100. and at the rate of 5 p' Cent p' annum Intrest, The principal to be paid inn at four equal payments, Viz' part at the end of Three years, part at the end of Six years, part at the end of nine years, and the remaining at the end of Twelve years, And no other Bills of credit whatsoever Shall be taken or received for Taxes, intrest or principal, but Bills of credit of this Tennor, or Silver coin after the rate of 28s p' Oz. 2d And on all payments of Taxes intrest or principal pun[c]tually made in these Bills of credit, An allow ance Shall be made to the persons making Such payments of 2 p' cent discount, But upon all payments made in Silver at 28s p' oz no discount Shall be made. 3d And besides £24000 lent upon good Land Security, all other Bills of Credit outstanding in the said province, Shall be brought inn in Six Months time and exchanged for Bills of credit of this New Tennor, or Shall be lost to the Possessor. And the remainder of the s £67275 Shall remain in the Treasury, to be signd and issued out as the Necessitys of the Province Shall require. 4. And at the end of Six Years after the first Emmission of the aforesaid £67275 Bills of Credit, at which time more then half the Said Sum will be brought in and sunk, by the Taxes Intrest & principal being duely paid, (as by the Annexed Scheme) Therefore, that the Said Province may Still be Supplyd with a Sufficient Medium to carry on the Trade of y said Province, I would propose that the Sum of £24862. 10 Bills of Credit, at the rate of 14s p' ounce Sterling Silver be struck off, And that £12000 of said Bills of Credit be emeadiatly Sign'd, and lent upon good Land Security, not more to any one person then £500 or less then £50 and at the rate of 5 p' cent p' annum and this second Emmission to pass and Opperate for Twelve years, and no longer, in the same manner as the former. 5 And after the Expiration of the Twelve years for which the first Bills of Credit at 28s p' ounce were emmitted, If any of ye Said Bills Should be then outstanding, the Bearer or Bearers of Such Bills shall have Six Months, and no longer, Allowed to bring them into the Treasury, & have them exchanged for half the nominal Sum of Bills of credit of the Second Emmission. 6. And at the end of the Same Twelve years, when all the Bills of Credit of the first Emmission Shall be |