25 Jun 1795
Page 1
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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
Political Gazette
Location
Newburyport, Massachusetts, United States of America
Date
Jun 25, 1795
Page
1
The text argues the depreciation of assignats stems from government emissions and disorder in national finances. It calls for a cautious, gradual reform, preserving public confidence, restoring value through clear principles, strong finance, and liberal trust in currency. It warns against shocks and urges a return to stable, enlightened governance.
The passage argues for freedom in metal and specie exchanges to avoid influencing private contracts. It notes that currency differences like peck or assignats arise from metal trade, and prohibitions would fuel stockjobbing. It likens usury bans to Montesquieu’s claim that prohibition drives up risk and insurer costs.
A prologue outlines proposals to allow individuals in future to stipulate and control in various forms while urging the government to publish monthly the real exchange rate along with prices of essentials and key markets. It argues for an independent board to monitor, calculate, and publish such data to prevent surprises and protect contracting parties and the state from manipulation.
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