Whatever the true explanation of this academic point might be, it was an undoubted fact that business was more nearly at a standstill in New York than elsewhere. Accordingly, in the spring of 1770, when money was rarely to be seen and debtors were selling their property at one-half or one-third of its former value in order to discharge obligations long overdue, the fair trading merchants of New York were not disposed to continue an experiment of which, as they said, they had borne the chief burden to the advantage of others and to their own impending ruin. Zealous Sons of Liberty, such as Alexander MacDougall and John Lamb, popular leaders of the "Inhabitants" of the city, were on the other hand determined that the non-importation agreement should be maintained unimpaired. The hard times, they said, were due chiefly to the monopoly prices exacted by the wealthy merchants, who were not ruined at all, who had on the contrary made a good thing out of the non-importation as long as they had anything to sell, and whose patriotism (God save the mark!) had now suddenly grown lukewarm only because they had disposed of all their goods, including "old moth-eaten clothes that had been rotting in the shops for years." These aspersions the merchants knew how to ignore. Their determination not to continue the non-importation was nevertheless sufficiently indicated in connection with the annual celebration, in March, of the repeal of the Stamp Act. On this occasion the merchants refused to meet as formerly with the Sons of Liberty, but made provision for a dinner of their own at another place, where all the Friends of Liberty and Trade were invited to be present. Both dinners were well attended, and at both the repeal of the Stamp Act was celebrated with patriotic enthusiasm, the main difference being that whereas the Sons of Liberty drank a toast to Mr. MacDougall and to "a continuance of the non-importation agreement until the revenue acts are repealed," the Friends of Liberty and Trade ignored Mr. MacDougall and drank to "trade and navigation and a speedy removal of their embarrassments."