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Letter from Wills Hill, Marquis of Downshire to William Tryon
Downshire, Wills Hill, Marquis of, 1718-1793
April 16, 1768
Volume 07, Page 709

[B. P. R. O. America and West Indies. Vol. 215.]
Letter from Earl Hillsborough to Governor Tryon

Whitehall, April 16th 1768.


The Petition to His Majesty from a Committee of both Houses of Assembly relating to the Expediency of a fresh Emission of Paper Bills of Credit with a legal Tender, inclosed in your Letter No 22, has been laid before the King. As the Power of creating Paper Currency to be a legal Tender, is restrained by Act of Parliament, the Committee must be sensible that the Crown cannot exercise It's Discretion on this Occasion, and if it was the Disposition of the Government to bring this consideration before Parliament, the Houses are not now sitting; But this Matter has already received so full a Discussion at the Board of Trade, at the Privy Council, and in each House of Parliament, and so strong and unanimous a Determination that Paper Currency with a legal Tender is big with Frauds, and full of Mischief to the Colonies, and to Commerce in general, that I apprehend no Consideration of a possible local Inconvenience will induce a Deviation from the sound Principles of the Act of Parliament relative thereto.

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