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Updated: September 11, 2025
We cannot leave Halifax without remarking that it is a city of great private virtue, and that its banks are sound. The appearance of its paper-money is not, however, inviting.
Gold, silver, copper, dirty paper-money, watches, rings, brooches, pins, bracelets, trinkets of male and female use, were thrown promiscuously down into a large basket which stood at the feet of the Carlist chief, who loftily disdained searching any one, assuring them that he trusted to their honor as Spaniards. Then came the turn of the Russell party. First the Paterfamilias disgorged.
The robbing white traders could not flourish in the light. Therefore they fought the light. He would prove it to the good people of Fitu-Iva, and he would prove it out of the mouths of his enemies. It was a well-known fact that all highly civilized countries had paper-money systems. He would ask Ieremia if this was not so. Ieremia did not answer. "You see," Cornelius went on, "he makes no answer.
It gave us enough to think of, God knows. Wild speculations in land and the American paper-money system had brought us into rough going. The banks of the city of New York had suspended payment of their notes. They could no longer meet their engagements. As usual, the burden fell heaviest on the poor. It was hard to get money even for black salts.
Promptitude and joint action with Reynolds will probably save it. But I must be prompt." He still spoke abstractedly, as if even now he were thinking of something else. He began to take out of the leathern satchel various bags of money. "Shall I help you to count it?" She often did so. They counted the flimsy dirty paper-money together, and put it all back into the various labelled bags.
When the siege was raised in March, paper-money was restored, round pieces of pasteboard, one side of which bore the Netherland lion, with the inscription, "Haec libertatis ergo," while the other had the coat-of- arms of the city and the motto "God guard Leyden."
The consequence is that this paper-money has depreciated in value to the extent of 15 per cent. The Government, however, have seen their mistake, and are gradually calling it in, and have established a very fine mint with a gold and silver coinage. Insurrections have also been a drag on Japan in its progress.
The inferior paper-money of this country is now reduced to one fifth of its value, and I am paid according to this scale.
In excuse for increasing provincial paper-money the planters always pled the exigencies of the public, such as warlike expeditions, raising fortifications, providing military stores, and maintaining garrisons; those no doubt rendered the measure sometimes necessary, and often reasonable, but private interest had also considerable weight in adopting it, and carrying it into execution.
This, and not being able to dispose of my paper-money in any other way, induced me at length to take four dozen. The turkeys, however, I was so dissatisfied about that I determined to make no more voyages to this quarter, nor with this captain; and was very apprehensive that my free voyage would be the worst I had ever made. We set sail for Montserrat.
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