The question of finance meets us at every turn, and in every phase bears fatal witness to the demoralizing effects of paper money unsustained by hard money capital. At the Spring election of 1786, the triumph of the paper money party was complete. A new bank was established of a hundred thousand pounds. And soon a Forcing Act became necessary to give the bills currency under heavy penalties. A complete stagnation of business presently followed. The old hostility between town and country revived. Commerce was suspended. Shops were closed. The farmers who had mortgaged their farms for the bills, found that they had got nothing but bits of paper in return for fruitful acres. To retaliate upon the tradesmen they refused to bring their produce to market. The necessaries of life fell short and much suffering ensued. In Providence a town meeting was held to devise a remedy, and it was resolved that the farmers should be left to make their own bargains, and that to relieve the immediate demand five hundred dollars should be borrowed and sent abroad to buy corn for the sufferers. At Newport an attempt was made to force the bills upon the grain dealers, which led to a riot. At a meeting in South Kingstown farmers were advised to break off their intercourse with the merchants. A convention of the country towns of Providence County was held at Scituate and adjourned to meet the State convention at East Greenwich. Sixteen towns were represented and resolved "to support the acts of the General Assembly," and enforce the penal acts in favor of paper money. Providence was represented by five of its best and most popular men, but they were powerless against the torrent. When the question came before the Assembly a new Forcing Act was passed, in which the right to trial by jury was withheld and all the common forms of justice violated. The protest of the indignant minority was refused a place on the records; and pushing their recklessness to the utmost, the triumphant majority enacted that the arrears of Continental taxes might be paid in the new bills, and proposed a system by which all trade was to be carried on by a committee in the name of the State. This, however, was a step too far even for these wild schemers, and when the Force Act was brought to trial, it was condemned by a full bench as unconstitutional. But the Assembly persevered, summoned the judges to answer fofr their interference, and under the name of Test Act passed a new Forcing Act more outrageous than the last. It was something like a pause in this reckless career that the new act was referred to the towns for discussion. Only three towns accepted it. An attempt at conciliation failed. The lowest deep of financial degredation was reached when the treasurer was ordered to pay one-fourth part of the State debt in the bills received for taxes. Never had party spirit assumed so dangerous a form. Among the bad doings of the Assembly was the resumption of the charter of Newport.