e of one million seven hundred and
seventyfive thousand nine hundred and fiftyfive dollars and two
thirds, which will then be reduced to nine hundred and thirtyseven
thousand and fiftyfive dollars and two thirds. I further propose, that
the remaining sums of old continental, due from the State, be
collected and paid as soon as possible, which, besides discharging
that demand, will also enable the State to receive the further sum of
two hundred and sixty thousand dollars of the new emission, and that,
being paid in as before, will still further reduce the balance against
the State to six hundred and seventytwo thousand and fiftyfive dollars
and two thirds. There are at present in circulation of the new
emission three hundred and ninetyone thousand one hundred dollars,
which ought certainly to be brought in as soon as possible, and
applied to the same purposes already specified; by which means the
eventual balance payable in specie, would be two hundred and eighty
thousand nine hundred and fiftyfive dollars and two thirds; to which
must be added, thirteen thousand three hundred and thirtyfour dollars,
required by Congress on the 8th day of January last to be paid in
specie; being together one hundred and ten thousand three hundred and
fiftyeight pounds, twelve shillings and sixpence. To explain all which
more fully, I enclose the accounts, number one, two, and three, to
which I pray leave to have reference.

The specific supplies will still remain to be provided for, in order
that all the demands of Congress may be fully answered; but I hope
that the specie tax now collecting will go a great way towards the
accomplishment of this necessary object, and at any rate, as the
state of paper, notwithstanding every effort, has not yet appreciated
to par, I would propose that no more of it be issued from the
treasury, except as equal to gold and silver, and then the collection
of the present, taxes will at least prevent any depreciation, and in
the meantime, the fund on which it was emitted, become more
productive. The next Assembly will be able to take such additional
measures as may be necessary, further to raise the value of it. This
can only be done by holding it up from circulation, on the one hand,
and on the other, by raising taxes, in which the public receive it as
equivalent to the precious metals.

It is my determination, as Superintendent, to deposit all the money of
the new emission, which shall be received from the