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Report on Ways and Means for Payment

v5:589

The Report from the Committee on Ways and Means, for payment of the services already voted, was taken into consideration.

And the said Report having been debated and amended, the Congress came to the following Resolutions thereupon, viz:

Whereas it appears that, on the 28th day of February, after discharging the services now due, there remains in the Colony Treasury no more of the one million one hundred and twenty thousand Pounds, issued by authority of Congress, than three hundred thousand Pounds: And whereas the charge of the Naval and Military establishments, calculated from the 1st instant to the 1st of January next, will amount to one million one hundred and nineteen thousand two hundred and seventy-six Pounds; so that, should this Colony obtain the allowance for three Continental Battalions, with rations at three Shillings per man, per day, amounting to three hundred and sixty-five thousand three hundred Pounds, with the sum remaining in the Treasury, there will be a deficiency of four hundred and fifty-three thousand nine hundred and seventy-six Pounds; and there may be wanted, for contingencies, two hundred and ninety-six thousand and twenty-four Pounds more:

Therefore, Resolved, That a sum not exceeding seven hundred and fifty thousand Pounds, currency, in Bills or Certificates, in the quantities, and of the denominations following, be stamped or printed, signed, and lodged in the Treasury, viz:

2,000 bills of one hundred Pounds each;
3,700 bills of fifty Pounds each;
5,200 bills of twenty-five Pounds each;
9,000 bills of fifteen Pounds each;
5,000 bills of three Pounds each;
10,000 bills of two Pounds five Shillings each;
5,500 bills of two Pounds each;
10,000 bills of one Pound fifteen Shillings each;
6,000 bills of one Pound ten Shillings each;
10,000 bills of seventeen Shillings and six Pence each;
10,000 bills of twelve Shillings and six Pence each;
12,000 bills of six Shillings and three Pence each;
10,000 bills of five Shillings each;
10,000 bills of three Shillings and nine Pence each;
10,000 bills of two Shillings and six Pence each;
10,000 bills of one Shilling and three Pence each.

Resolved, That the publick faith of this Colony be, and it is hereby, solemnly pledged to provide funds for calling in and sinking the Bills to be issued under the foregoing Resolutions.

And whereas, notwithstanding the great issue of Paper Currency, it appears that cash is scarce in circulation: but to avoid a redundancy of such currency,

Resolved, That a power be, and is hereby, vested in the Council of Safety to borrow, on interest, the whole or any part of the said sum of seven hundred and fifty thousand Pounds, now resolved to be issued, if they shall find it expedient and practicable.

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