Robert Treat Paine Papers, Volume 4
Our General Assembly are now sitting, they have agreed to Stop the currency of the Bills of this State (except small change under a dollar) by the 20th. of march next in private dealing, and in the Treasury by the first day of July next, except from persons in the Army & out of the State making proof that they had not opportunity to bring them in by that time, who may bring them in by the 1 Novr. next & not afterward. Both Houses have also Agreed to Accept & approve the report of the Convention for Regulating prices without any alteration & ordered a Bill for an Act to be drawn thereon. The Assembly have also laid Taxes for Collecting 600,000 dollars toward Supplying the Continental Treasury, one half to be paid the first Day of June & the other the first of November next. It is the General opinion here that we can neither fill up, or keep up the Army unless immediate & effectual measures are taken to reduce the present high prices, & render the medium Stable. It is hoped that the System of measures recommended by congress if Strictly Adhered to by all the States will produce those Salutary effects.
I wish to be Informed what your Assembly have done or are likely to do respecting those measures. Some Traders & Speculators here, are opposed to the regulation of prices by Law, but by the best Information I have been able to Collect the people in General are in favour of it. An express Sent by the Governor to Congress returned Yesterday & brought Several letters & 23 papers but they contain no very material news. He Says he was informed on his way home that a party of our Troops had taken a foraging party of the Enemy, of 300 men with Sixty Waggons & two Field pieces.