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T H E Georgia MR. PRINTER, IN your paper of the 16th Decem ber lait it was clearly proved that the refpeXive debt of the States of America* jointly and severally, could not,amount to less than one hun dred millions sterling. Whether, un der such a load, it would be poffiblefor Congress to continue the war* prevent an universal bankruptcy, and the ruin of this continent, was left for further enquiry. This Tam afraid is not the time when those who are moft concern ed are moft disposed calmly and seriously to enquire *, but the only time to warn a people agair.ft ruin and deftruXiort must be before that ruin is entirely aompleated. Jn this paper, therefore, I u&uld hazard fome reflexions on this melancholy fubjeX. I shall state plain faXs, lay down undeniable principles, and leave the copclufions with my read ers, not without a hearty wish, that, on the very precipice of danger and de ftruXion, deluded men may Come to their senses, and prevent greater cala mities by pursuing wil'er and juftcr measures. Can America in her prtfent fituatiort , and under a debt of a hundred millions sterling , keep up the war, and eftabUJb herfelf upon a more advantageous situation than has been offered eat-Britain ? This is the question. I shall not con sider this fubjeX in all its different views t the Angle article of American Currency will befufficicnt to determine the whole. It may be thought impertinent to set out with,the fuppofuion, that, if Con gress, or each JnfpeEtive state, mean to carry on andyfucceed in their cause, they must do it either with or without the ne cessary means , with or without moneys but it must be acknowledged that they have carried it on far beyond expecta tion, and by means fuppofed'very in adequate, whether finally, to obtain their favourite point, or to bring deftruXion on themselves and their country, time only can decide; and how near or dis tant that dec iff on may he, what 1 intend to fay may pciTibiy am ft a thinking im partial reader in forming his judgment* I shall therefore take it for granted, that, though the Congress faith, “ their independence is as fixed as fate,” Means are necefiary to keep it up. This they not only allow, but very anxkwfly call upon their constituents tofumifh them with money as the moft tfiential article, and even urge it as a confi.icration that otherwise it might be laid, “ that A merica became infohent as sow at she de clared herjelf independent.’* Strange, that Independency and Jnfolvency should be so nearly connected and men tioned in the fame breath I The neces sity of means, of which money is the principal, being once established, their SAVANNAH:. THURSDAY, JANUARY 6, ,1780. existence or non-existence must deter mine the cause, and is the articuliis ftantis vel cadentis cauj* ; on whole matter hingetb. lafk, therefore, Hath the Congress any ccfn in specie , and how much? The revenues of all states and kingdoms are pretty well krtown, and how much current coin circulates in different nations is no total secret to able financiers. The annual sums /aifed by Gteat-Brirain, and by what means, are published \ and upon a late occasion it fully appeared that her circulating cash exceeded by fevetal millions r what it was said to be by fome political calculators, viz. not less than between 20 and *3O millions * and, in the midst of distress, it must raise an indignant smile, when men pretend Great-Britain must fink with so many millions of gold, while* to save their necks* it would not be in their power to furnifh so many coppers. America is the only state which as yet has not axfingle hrafs farthing of its own coin* and lo little dealings seems the Con gress to have with hard fpecie* that e ven their books and accounts are stran gers to it, and probably tne only nati onal ones upon earth where paper is the foie and standard article. Loans of millions of hard dollars frgm Fr/nce and Spain have indeed often been boasted of, but if such ever way into the Treasury, they must nfcve come out again very slyly, for certain it is few or none of them made tnefir appearance in publicity and if theCon grtfi had had them at command, it is reasonably supposed they would have made use of them if possible to flop the depreciation. In point of specie, there fore, these two things are incontestable, America has no coin of gold, silver, or Copper, of her own, and if any real fpetie was lent to her it has not entered into pubiick circulation. All rommer-/ cial nations have established banks* where fubjeXs and foreigners are glad to lodge their money with fafety, and receive punXual interest j that America has no bank is as notorious as that she has no coin, An American will be ready to Urge, that, though this may be true, it can not affeX them, that continental mo ney answers ail the purposes of hard cash, and has even fome advantages 0- ver Tt, and none can doubt of that A merica has great plenty. I anfwcr, that ifio millions have K-en ifllied, and that thjs is a very large sum I readily grant, but then all this money has not only been iiTued, but also spent j this therefore can be of no ferviee, It is universally allowed that it is greatly depreciated, but is there even of this depreciated money at present so much in the Treasury as to answer daily de mands, and prevent further emissions, ROX A V Gazette* which are declared to be pernicious ? I observed, that* from the state of the account, it does hot appear that there is a single dollar in the Treafury \ foto suppose the Treasury entirely drained is no more than a natural conclufion* but this conclusion rises to argument* when it is considered that, notwith standing the effe&s of are pointed out as lb very dcftnsXive, the Congress resolved upon emitting 40 millions more. Would they have done this if they could have helped it, i. ei if they had lAi in cash? Add to this* that the Congress demanded no less than 60 millions during the course of this year, under profefTed declarations that they cpnnot go on without it, and scarce a doubt can possibly remain that there is little or no money of any kind in their hands over ahd above the lait 40 millions which they have determin ed to emit under the express condition* (which probably it may become im praXicable ro infringe) “ not to iflue more upon any account whatsoever.” The want of money in the Treasury further appears from the express declaa ration of Congress, that they will not exceed a certain sum still to be iffued* but“relyon the states for supplies ” These supplies must consist cither of loans of taxes j let us confider how far either* or both, may prove adequate to the purpose. From what has been* we may conclude what may be i Now, it appears, from the authcntick account* that, in four years time, all the taxes did not bring in four millions ; must it not be an amazing strain therefore, if, in one year, they are to bring in sixty. It is obvious that very great difficulties must attend, not indeed the ifluing* but the railing of such a sum. The bard conveyance of the quota from South-*. Carolina and the New-England states to Philadelphia must be very hazardous and expensive: Nor can these taxes fail being very heavy and oppreffive* admit ting beyond truth there are 3,000,000 of inhabitants of every kind in America* and that the continental debt, as by Congress at the end of the wir, woSS be 3000,000,000, then,as they obferve* one hundred dollars would be the quo ta of every inhabitant, which, fay they, calf be paid with ease in 15 or 20 years) but it should be observed, that the tax ables in America are certainly rated at 4 million too high, the debt at many mil lions too low * and to come nearer to the point, fuppefing South-Carolina to contain 100,000 inhabitants* arid their 1 continental quota for the year iyjß to be 7,200,000, will not that require a tax of 170 dollars per head upon eve ry m||, woman, and child, black and white, and will not that be heavy } Yet this will serve only for one year, and 10-> Iftte the Page.) IH*. 4S-J