Congress have been often, and for a considerable time, in a committee of the whole, upon the state of the treasury, and the means of supporting the credit of the continental currency. At length they have “Resolved [Jan. 14.] That all bills of credit emitted by authority of congress, ought to pass current in all payments, trade and dealings in these states, and be deemed in value equal to the same nominal sums in Spanish milled dollars; and that whosoever shall offer, ask or receive more in the said bills, for any gold or silver coins, bullion, or any other species of money whatsoever, than the nominal sum or amount thereof in Spanish milled dollars, or more in the said bills for any lands, houses, goods or any commodities whatsoever, than the same could be purchased at of the same person or persons, in gold, silver or any other species of money whatsoever; or shall offer to sell any goods or commodities for gold or silver coins, or any other species of money whatsoever, and refuse to sell the same for the said continental bills; every such person ought to be deemed an enemy to the liberties of these United States, and to forfeit the value of the money so exchanged, or house, land or commodity so sold or offered to sale. And it is recommended to the legislatures of the respective states, to enact laws inflicting such forfeitures and other penalties on offenders as aforesaid, as will prevent such pernicious practices—that it be recommended to the legislatures of the United States, to pass laws to make the bills of credit issued by the congress, a lawful tender in payments of public and private debts; and a refusal thereof an extinguishment of such debts; that debts payable in sterling money, be discharged with continental dollars, at the rate of four and six-pence sterling per dollar; and that in discharge of all other debts and contracts, continental dollars pass at the rate fixed by the respective states for the value of Spanish milled dollars.” The several states will undoubtedly make the continental bills a legal tender, agreeable to the recommendation; though therein they establish the perpetration of iniquity by law. There are too many debtors in every state, and general assembly, who will by the help of it clear themselves of incumbrances; and who will feel nothing, or but little, at the injustice they commit in paying their creditors with a depreciated currency, while they have the law of the land in their favor. But all these attempts of congress to keep up the value of the bills, are delusive; and will deceive those most who have the greatest confidence in the wisdom of the present measure. It is scarce possible that they can so far impose upon their own judgments, as to view it in any other light than a momentary relief from a present evil, by subjecting themselves to a greater in future, but which, when it shall arrive, they flatter themselves they shall get rid of by some new expedient.