Excerpt from Further Considerations on the State of the Currency: In Which the Means of Restoring Our Circulation to a Salutary State Are Fully Explained, and the Injuries Sustained by the Public Treasury, as Well as by the National Creditor, From Our Present Pecuniary System, Are Minutely Detailed

Perhaps, too, considering the length of time which the proofs of the depreciation of our paper have remained before the public unanswered, it might be assumed, without farther argument, that the depreciation of bank notes is the cause of the derangement of our currency. Nay, if the public Opinion can be inferred from the ap prehension so generally felt and so frequently exp pressed, of the impending calamity with which the state of our currency threatens us, some apoo logy would appear necessary for presuming to suppose, 'that any farther reasoning could be re quired to establish, either that there exists a dif ference of valne betwixt our coin and our paper, or that this rapidly increasing difference arises from the depreciation of paper.

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