TO THE GOVERNOR OF MARYLAND.
Office of Finance, July 29th, 1782.
Sir
I have now before me your two favors of the 12th instant. You will find my answers as well in a former letter, as in the enclosed circular. For what remains I must only declare to you my regret at finding your prospects so gloomy. The idea that taxes cannot be raised because of the want of specie, is very general, indeed it is almost universal, and yet nothing can be more ill-founded. If the people be put in the necessity of procuring specie, they will procure it. They can if they will. Tobacco may not sell at one moment, grain at another, or cattle at a third; but there are some articles such as horses, which will sell at all times. The mischief is, that when a purchaser offers, the party not being under a necessity of selling, insists on a higher price than the other can afford to give. Thus the commerce is turned away to another quarter. Nothing but the necessity of getting money will bring men in general to lower their prices. When this is done purchasers will offer in abundance, and thus it will be found, that the tax instead of lessening will increase the quantity of specie. But so long as the want of it can be pleaded successfully against taxes, so long that want will continue. And then all that remains to consider is, whether the army can be maintained by such a plea. The States, Sir, must give money, or the army must disband.
I have the honor to be, &c.
ROBERT MORRIS.