In the autobiography of Benjamin Franklin, he writes "That around the year 1729 there was a cry among the people for more paper money. I was on the side of addition, being persuaded that the first small sum struck in 1723 had done much good by increasing the trade, employment, and number of inhabitants in the province, since I now saw all the old houses inhabited, and many new ones building, whereas I remembered well, that when I first walked about the streets of Philadelphia, eating my roll, I saw most of the houses in Walnut street, with bills on their doors, "To be let"; and many likewise on other streets, which made me then think the inhabitants of the city were deserting it one after another."
"I then wrote and printed an anonymous pamphlet entitled 'The Nature and Necessity of a Paper Currency.' It was well received by the common people in general; but the rich men disliked it, for it increased and strengthened the clamor for more money, and they happening to have no writers among them that were able to answer it, their opposition slackened, and the point was carried by a majority in the House. My friends there, who conceived I had been of some service, thought fit to reward me by employing me in printing the money; a very profitable job and a great help to me. This was another advantage gained by my being able to write."
"The utility of this currency became by time and experience so evident as never afterwards to be much disputed; so that it grew soon to fifty-five thousand pounds, and in 1739 to eighty thousand pounds, since which it arose during war to upwards of three hundred and fifty thousand pounds, trade, building and inhabitants all the while increasing, till I now think there are limits beyond which the quantity may be hurtful."
"I soon after obtained through my friend Hamilton, the printing of the Newcastle paper money, another profitable jobb as I then thought it; as they were great encouragements...which continued in my hands as long as I followed the business."
Cyrus Durey: Frontiersmen of the Adirondacks: Economic Development in Early North America (ebook and paperback editions)
Frontiersmen of the Adirondacks: Economic Development in Early North America [NOOK Book] (ebook and paperback editions)
Designed by Benjamin Franklyn, this Continental Dollar below, likely struck in New York around early 1776, shows a sun shining down on a sundial along with the words Fugio (Latin for "pass quickly") and Mind Your Business. The basic message is: Time flies, so work hard and be industrious.