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Updated: May 20, 2025
Have heard Lowell and Hedge lecture, acted in plays, and thanks to our rag-money and good cousin H., have been to the theatre several times always my great joy. Summer plans are yet unsettled. Father wants to go to England: not a wise idea, I think. We shall probably stay here, and A. and I go into the country as governesses.
Every state had its own war-debt, and several were applicants for foreign loans not easy to obtain, so that none could without the greatest difficulty raise a surplus to hand over to Congress. The Continental rag-money had ceased to circulate by the end of 1780, and our foreign credit was nearly ruined.
When a committee of wealthy business men from Boston, New York, and Philadelphia waited on him with a remonstrance against his financial policy, he gave them such a reception that they felt very uncomfortable and were glad to get away. The Democratic politicians and presses heartily seconded their chieftain in this war, promising the people "Benton mint-drops instead of rag-money."
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