PAPER MISCHIEF [EXPOSED]

THE position here submitted to the judgment of the public is the accidental and collateral result of a train of investigation I was led into by the pursuit of a different object. In the course of that enquiry I soon saw that prices were raised by paper money, and that the rise of prices was an evil-but, seeing at the same time that the addition made to wealth by paper was not less real, sum for sum, than if made by gold, I was led to regard the evil as among those which are to be regretted without being combated, as being inseparably attached to masses of greater good. In this persuasion [at one] with Sir W[illiam] Pulteney' and so many other distinguished statesmen, whose countenance may well serve to screen against every imputa. tion of temerity, I was actually occupying myself with contrivances for adding to the existing mass of the circulating medium. When, as the enquiry advanced, I came to examine into the supposed connection, and taking measure of the evil, great was m~ surprize to find the connection purely imaginary, and the evil swelling to a most enormous magnitude, swelling to such a magnitude as to eclipse those which, among evils of the same kind, have hitherto been felt as inflicting the severest pressure.