=

not, without payment, perform their duties, but must have gone to gaol for debts they had contracted to enable them a to live." To so low an ebb was the public treasury reduced, that some of the members of the board of war declared to Mr. Morris, they had not the means of sending an express to the army. The pressing distress for provision among the troops at the time has already been mentioned. The paper bills of credit were sunk so low in value, as to require a burthensome mass of them to pay for an article of clothing. But the face of things was soon changed. One of the first good effects perceived, was the appreciation of the paper money; "this was raised from the low state of six for one, to that of two for one, and it would have been brought nearly if not entirely to par, had not some measures intervened, which, though well meant, were not judicious." The plan he adopted was, "to make all his negotiations by selling bills of exchange for paper money, and afterwards paying it at a smaller rate of depreciation than that by which it was received; and at each suceessive operation the rate was lowered, by accepting it on the same terms for new bills of exchange, at which it had been previously paid. It was never applied to the purchase of specific supplies, because it had been checked in the progress towards par, and therefore, if it had been paid out in any quantity from the treasury, those who received it would have suffered by the consequent depreciation.

a

A slight reflection will show the arduous nature of the duties which he under took to discharge.

In old organized governments, where a regular routine of the department bas been long established, and the details, as it were, brought to perfection, by gradual improvement, derived from the experience and talents of successive officers, little difficulty is experienced by the new incumbent in continuing the customary train of operations. Simple honesty, attention to duty, and a careful progress in the path previously pointed out, are all the requisites; but the state of public affairs, and especially in the fiscal department of the United States at the * time alluded to, furnished none of these helps. Every thing was in the greatest

Debates on the renewal of the charter of the Bank of North America, p. 47.

This word appears to have been coined during the revolution, and used as the opposite of depreciation.

confusion; and a new system of accounts was not only required to be devised, but the means of supplying the nu merous and pressing wants of the public service to be discovered, and attention paid to those wants. The task would have appalled any common man; but the natural talents of Mr. Morris, together with his experience and habits of despatch, derived from his extensive commercial concerns for a long series of years, and an uncommon readiness, great assiduity and method in business, with decision of character, enabled him to surmount all the difficulties that lay in his way. An inspection of the official statement of his accounts, will at once show the serious nature of the multifarious duties attached to the office, and the pressure of his engagements; but an opportunity of so doing, even if wished for, can be had by few. Some idea may be formed of them, when it is known, that he was required "to examine into the state of the public debts, expenditures, and revenue: to digest and report plans for improving and regulating the finances, and for establishing order and economy in the expenditure of public money." To him was likewise committed the disposition, managment, and disbursement, of all the loans received from the govern ment of France, and various private persons in that country and Holland; the sums of money received from the different states; and of the public funds for every possible source of expense for the support of government, civil, military, and naval; the procuring supplics of every description for the army and navy; the entire management and direction of the public ships of war; the payment of all foreign debts; and the correspondence with our ministers at European courts, on subjects of finance. In short, the whole burthen of the money operations of government was laid upon him. No man ever had more numerous concerns committed to his charge, and few to a greater amount; and never did any one more faithfully discharge the various complicated trusts with greater despatch, economy, or credit, than the subject of this sketch. The details of his management of the office of finance may be seen in the volume which he published in the year 1785.* It is well worth the inspection of every American.

* A Statement of the Accounts of the United States of America during the administration of the superintendant of finance, commencing February 1781, ending November 1784.

The

The preface, in particular, should be read attentively, as he will from it form some idea of the state of public affairs, as to money, at the time; of the difficulties attending the revolutionary struggle on that account, and the means by which our independence was secured, or greatly promoted, and for the enjoyment of which he ought never to cease to be thankful.

The establishment of the Bank of North America forms a prominent item in the administration of Mr. Morris. The knowledge which he had acquired of the principles of banking, and of the advantages resulting to a commercial community from a well-regulated bank of discount and deposit, in enabling merchants to anticipate their funds in cases of exigency, or of occasions offer ing well-grounded schemes of speculation, rendered a hint on the subject of the importance of a bank to the govern ment enough; and he accordingly adopted it with warmth. Such an institution had been previously suggested, and, as already said, an attempt at one, although with paper money, but backed by the bonds of responsible men, had been made the preceding year. The greater facilities which one with a specic capital promised, in enabling the government to anticipate its revenue, and to increase the quantity of circulating medium, and promote trade, were forcibly impressed on his mind, and induced him to propose it to congress. In May 1781, he presented his plan, which was approved by that body. Subscriptions were opened shortly after; but, in the following November, when the directors were elected, "not two hundred out of a thousand had been subscribed, and it was some time after the business of the

It commences thus:

"To the Inhabitants of the United States. "FELLOW-CITIZENS,

"That every servant should render an account of his stewardship, is the evident dictate of common sense. Where the trust is important, the necessity is increased; and, where it is confidential, the duty is en. hanced. The master should know what the servant has done. To the citizens of the United States, therefore, the following pages are most humbly submitted."

Mr. Morris stated, in his speech on the renewal of the charter of the Bank of North America, that before the American. war, he had "laid the foundation of a bank, and established a credit in Europe for the purpose. From the excention of the design, he was prevented only by the revolution." Debates, p. 27.

bank was fairly commenced, before the sum received upon all the subscriptions amounted to 70,000 dollars." Mr. Merris, no doubt, became sensible that such a capital would go but a little way in aiding him in his financial operations for go vernment, and at the same time accom modate the trading part of the commanity. He therefore subscribed 250,900 dollars of the 300,000 dollars, (which re mained of the money received from France,) to the stock of the bank, on the public account: 450,000 dollars had been brought from France, and lodged in the bank, and he had determined, from the moment of its arrival, to subscribe, on behalf of the United States, for those shares that remained vacant; but such was the amount of the public expenditure, that, notwithstanding the utmost care and caution to keep this money, nearly one half of the sum was exhausted before the institution could be organized." It was principally on this fund that the operations of the insti tution were commenced; and before the last day of March, the public obtained a loan of 300,000 dollars, being the total amount of their then capital. This lean was shortly after increased to 400,000 dollars.† Considerable facilities were also obtained by discounting the notes of individuals, and thereby anticipating the receipts of public money; besides which, the persons who had contracted for fors nishing rations to the army were also aided by discounts upon the pube credit. And in addition to all this, the credit and confidence which were revived by means of this institution, formed the basis of the system through which the anticipations made within the bounds of the United States had, in July, 1783, exceeded 820,000 dollars. If the sums due (indirectly,) for notes of individuals discounted, be taken into consideration, the total will exceed one million! It may then not only be asserted, but demonstrated, that without the establishment of the national bank, the business of the department of finance could not have been performed."

Besides this great benefit to the public cause, derived from the bank, the state of Pennsylvania, and city of Phiadelphia, by loans obtained from it, we greatly accommodated. It enabled ta first to provide for the protection of the

Debates on Bank, p. 43.

The sum total brought into the public treasury, from the several states, not amounting to 30,000 dollars upon the last day of June.

frontiers,

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frontiers, then sorely assailed; and to relieve the officers of the Pennsylvania line from their distress, occasioned by the failure of the internal revenue, which had been mortgaged for payment of interest of certificates granted them for 2 military services. It enabled the merchants to clear the bay, and even the river Delaware, of the hostile cruizers (which destroyed the little commerce that was left, and harassed our internal trade,) by fitting out, among other armed vessels, the ship "Hyder Ally," which, under the command of the late gallant BarHey, in four days after she sailed, brought into port the sloop of war General Monk, which the British, with accurate knowledge of all public movements, had fitted out at New-York, with the particular object of capturing her. By loans from the bank the city authorities relieved the pressing wants of the capital, which suffered in a va riety of ways from the exhausted state of its funds, the necessary consequence of the war. But the support of public credit, the defence of the state and harbour, and relief of the city funds, were not the only results from this happy financial expedient of Mr. Morris. By accommodations to the citizens it promoted internal improvements, gave a spring to trade, and greatly increased the

The following statement of the comparative force of the two vessels, was published in a newspaper of the day. 1 1. The General Monk carried eighteen nine pounders; the Hyder Ally carried only four nines and twelve six pounders.

2. The General Monk carried 150 men; the Hyder Ally only 120 men.

3. The General Monk was completely fitted for sea, and was officered and manned with a crew regularly trained, and perfectly disciplined, by long experience, in the British navy. The Hyder Ally was a letter of marque a few days before the battle. Most of her officers were young men. Her captain brought up in a counting-house, who had become a sea-officer, as many of our farmers, lawyers, and doctors, became generals from necessity and patriotism. The crew was picked up the week before in the streets of Philadelphia; many of them were landsmen, and most of them had never been in action before.

4. The General Monk lost fifty-three men in killed and wounded; the Hyder Ally lost only eleven.

Add to these circumstances, that the victory, under all these disparities, was obtained in twenty-five minutes; and it will appear to be one of the most honourable exploits to the flag of the United States that occurred during the war.

circulating medium by the issue of bills, which, being convertible at will into gold or silver, were universally received as equal thereto, and commanded the most unbounded confidence. Hundreds availed themselves of the security afforded by the vaults of the bank to deposit their cash, which, from the impossibility of investing it, had long been hid from the light; and the constant current of deposits in the course of trade, authorized the directors to increase their business, and the amount of their issues, to a most unprecedented extent. The consequence of this was a speedy and most perceptible change in the state of affairs, both public and private.

In the same year, an additional mark of the confidence reposed in the talents and integrity of Mr. Morris, was evinced by the legislature of Pennsylvania, by their appointment of him as their agent to purchase the supplies demanded of the state for the public service. By the nature of the organization of the general government, the annual necessities of the public funds, provisions and other supplies were apportioned among the several states, and large demands were made upon Pennsylvania in 1781. Mr. Morris was appointed to furnish them, and a particular resolve of congress permitted him to undertake the trust. The supplies were furnished in anticipation, before the money was obtained from the state treasury: and while he thus enabled the state promptly to comply with the demands of congress, he shows, by his account of the transaction, that the plan of his operations was more economical than any other, which, under the state of things at the time, could have been adopted. Those only who parties at the time in Pennsylvania, or are old enough to recollect the state of have made themselves acquainted with them, can duly appreciate the extent of the compliment paid to Mr. Morris by his appointment upon the occasion mentioned. Political feuds, arising in part from a difference of opinion on the subject of the constitution of Pennsylvania of 1776, prevailed to a great extent; and the conduct of the ruling party, who feeble instrument, was on many occawere opposed to any change in that sions marked by want of both intelligence and liberality of sentiment. Mr. Morris was considered the head of what they chose to term the aristocratic party; that is, that portion of men of wealth, great public consideration, superior education, and liberal ideas, who

ardently

ardently wished a more energetic form of state government than could exist ander a single legislature, and numerous executive council; and, could the legisJature have dispensed with his services, er had there been any man among the party in power capable of fulfilling the trust, it is probable that he would not have been appointed to it. That man, however, did not exist. The manner in which Mr. Morris executed it, showed how well he merited the confidence of the legislature, and also a skilfulness of management, which noue but himself could have effected.*

In the year 1786, Mr. Morris served as a representative of Philadelphia, in the state legislature. Always ready to lend the aid, either of his talents, time, or purse, when required by the cause of his country, or state, be yielded to the wishes of his fellow-citizens in standing as a candidate, for the express purpose of exerting his influence in favour of the renewal of the charter of the bank of North America, which had been taken away from that institution by the preceding assembly. The ostensible reasons for this unjust measure were ill grounded fears of the evil effects of the bank on society, (and especially the agricultural interest,) its incompatibility with the safety and welfare of the state; an improbable possibility of undue influence from it on the legislature itself; with other arguments of equal weight and truth. But the real cause must be ascribed to the continuance of the spirit of the same party which had been so violently opposed to Mr. Morris, and the society with which he associated during the whole of the American war. The debates on the occasion, which excited great interest among all classes of society, were accurately taken down, and published in a pamphlet.+ Mr. Morris replied to all the arguments of his opponents with a force of reasoning that would have produced conviction in the mind of any man, not previously determined to destroy the bank, if possible, at all hazards. The question, however, was lost by a majority of 13, (28 to 41). The succeeding legislature restored the charter.

The next public service rendered by Mr. Morris to his country, was as a

member of the convention that formed the federal constitution in the year 1787. He had, as a part of his colleagues, Benjamin Franklin, George Clymer, and James Wilson, with whom he assisted in the councils that led to the memorable and decisive measures of the year 1776; and now with them again united in forming the bond of union, which was to lay the foundation for the future and permanent prosperity of their country. The want of an efficient federal government in conducting the war, had been severely felt by all those at the head of affairs, either in a civil or military capacity, and most particularly by Mr. Morris, while a member of Congress, and afterwards when the financiai concerns of the Union were exclusively committed to him; and the necessity of it, "one, which would draw forth and direct the combined efforts of United America," was strongly urged by him, in the conclusion of his masterly preface to the "Statement of his Finance Accounts," already referred to.

The confidence of his fellow-citizens was again shown, in his election as one of the representatives from Philadelphia, in the first Congress that sat at New York after the ratification of the federal compact by the number of states required thereby, to establish it as the grand basis of the law of the land.

It adds not a little to the merit of Mr. Morris, that notwithstanding his numerous engagements as a public and private character, their magnitude, and often perplexing nature, he was enabled to fulfil all the private duties which bis high standing in society necessarily imposed upon him. His house was the seat of elegant but unostentatious hospitality, and his domestic affairs were managed with the same admirable order which had so long and so proverbially distinguished his counting-house, the oflice of the secret committee of congress, and that of finance. An introduction to Mr. Morris was a matter in course with all the strangers in good society, who for half a century visited Philadelphia, either on commercial, public, or private, business; and it is not saying too much to assert, that during a certain period, it greatly depended upon him to do the honours of the city; and certainly no one was more qualified or more willing to support them. Al though active in the acquisition of wealth as a merchant, no one more freely parted with bis gains for public or private purposes of a meritorious nature,

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nature, whether these were to support the credit of the government, to promote objects of humanity, local improvement, the welfare of meritorious individuals in society, or a faithful com. mercial servant. The instances in which he shoue on all these occasions were numerous. Some in reference to the three former particulars have been mentioned, and many acts of disinterested generosity in respect to the last could easily be related. The prime of his life was engaged in discharging the most important civil trusts to his country, that could possibly fall to the lot of any man; and millions passed through his hands as a public officer, without the smallest breath of insinuation against his correctness, or of negligence, amidst "defaulters of unaccounted thousands," or the losses sustained by the reprehen, sible carelessness of national agents.

From the foregoing short account we have some idea of the nature and magnitude of the services rendered by Robert Morris to the United States. It

may be truly said, that few men acted a more conspicuous or useful part; and, when we recollect that it was by his exertions and talents that the United States were so often relieved from their difficulties at times of great depression and pecuniary distress, an estimate may be formed of the weight of obligations due to him from the people of the present day. Justly, therefore, may an elegant historian of the American war say, "Certainly the Americans owed, and still owe, as much acknowledgment to the financial operations of Robert Morris, as to the negotiations of Benjamin Franklin, or even the arms of George Washington."*

After the close of the American war, Mr. Morris was among the first in the States who extensively engaged in the East India and China trade. He died in Philadelphia, in the year 1806, in the 73d year of his age,

* Botta's Hist. Am. War. vol. iii. p. 313.

: JAMES 1.

plains; and 'tis the only music I am

FOX-HUNTERS.

Though fox-hunters are absolutely void of understanding, yet we have found some of them, like Fielding's Squire Western, who set up for wits. One of these gentlemen answered his sister, who invited him to London to hear Farinelli,-" Sister, I wou'dn't give a farthing to hear your Farinelli, and your whole Italian opera: I bave here twenty voices, with which I join in chorus, and make them sing; one while in the woods, and another in the MONTHLY MAG. No, 387.

ETON.

Dr. Watson, after ridiculing too nice an attention to prosody, terms this institution "a noble mart of metre,"

FENELON.

This modest prelate was the only Archbishop of Cambray that declined the pompous reception attendant on the solemn entries of great ecclesiastical diguitaries into their instalments. On such occasions there had been brilliant and expensive fêtes at Cambray, from the twelfth century. Fenelon's successor, at his entrance, distributed among the people medals, with his portrait, and the legend," Sacerdos et Princeps." The history of particular towns is occasionally of use to illustrate facts and dates of general history.

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CHURCH