An irish family often arrives, and purchases a plantation; which for some years brings them good crops, but for want of manure will in time be worn out (a very common case in America.) When in this situation they offer it for sale, the adjacent german families club a sum of money, purchase the land, plough it well, and let it remain in this state for three or four years: they then place an emigrant family from their own country upon the farm, who, by indefatigable industry and manure, soon bring the land round, pay for the estate by installments, and live very comfortably. Some of the best plantations in Pennsylvania were originally left in this manner. The irish family go two or three hundred miles up the country, where they can purchase as much land as they please, from sixpence to a dollar per acre: here they literally break fresh ground, and begin the world again. To some timorous people, their new situation would be thought dangerous, as they are liable to a visit from the Indians, and perishing by the scalping knife and tomahawk.—See a former letter on back settlers.
Aug. 6th.—We returned to Philadelphia, not overloaded with cash, but with more than was sufficient for our expenses, which, owing to several excursions from Lancaster, were not trifling.—Farewel.—Believe me
Yours very sincerely.
* * * * *
Philadelphia, 14th August, 1794.
DEAR SIR,
By captain H——, of the Betsy, who will deliver this letter, I have sent you specimens of the federal coinage.
When that government was formed, a mint was established, and a coinage issued on a new plan. This was much wanted, as scarcely three of the states agreed as to the value currency of a dollar. Here it was seven shillings and sixpence, in South Carolina four shillings and eight pence, at New York eight shillings, and in the New England states six shillings. According to the new regulations, all nominal coins are exploded, and the silver dollar, weighing 17 dwts. 6 grs.[Footnote: This is the exact weight of the spanish milled dollar, which, as well as the divisions, are allowed to pass current; they consist of the half, quarter, eighth, and sixteenth, also the pistreen, or fifth, and the half pistreen, or tenth.], is fixed as the standard, divided into one hundred decimal parts; these are of copper, and called cents. All taxes, duties and imposts, that extend to the whole Union, are levied in these coins only. The other federal coins, like the english guineas and crowns, never appear on the public accounts.
Those of gold are eagles, half eagles, and quarter eagles, value ten, five, and two and a half, dollars: of silver, the half, quarter, tenth, and twentieth of the standard dollar; or fifty, twenty-five, ten, and five cents: of copper, the half cent, or two hundredth part of a dollar. The principle on which this coinage is formed is so very simple, that the proportion they bear to each other, and the standard dollar may be found with the utmost facility. Indeed little else is wanted than the adding or cutting off figures or ciphers: for instance, the public accounts being kept in two columns, dollars, and cents; suppose in adding up the latter, you find they amount to 27621, you have only to cut off the two right hand figures, and their value stands thus; 276 dollars, 21 cents. To reduce eagles to dollars, add a cipher, and vice versa. To reduce half, and quarter eagles to dollars, you have only to divide by 2 or 4 previous to adding the cipher.
But though the federal government has succeeded in establishing it's coinage, the people cannot be persuaded (the wholesale merchants, and a few enlightened citizens excepted,) to come into this scheme; they obstinately insist on buying, selling, and keeping their accounts in the good old way of their fathers! that is to say, in currency, by pounds, shillings, and pence; and nothing can be more complex, as they have not a single coin in circulation of the real or nominal value of any of them. If you are to pay the sum of three shillings and fourpence halfpenny, (without having recourse to the federal scheme) you must provide yourself with three silver divisions of the Spanish dollar, viz. the fourth, eighth, and sixteenth, three english halfpence, two of George the Second, and one of his present majesty[Footnote: Owing to the quantity of counterfeit english halfpence of the present reign now in circulation in these states, those of king George the Third, whether counterfeit or not, are depreciated to the 360th part of a dollar.]; the nominal value of which, added together, make that sum within a very trifling fraction.