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Extra resources for Banks and Politics in America: From the Revolution to the Civil War

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The 16 Potter and Rider, 143-63; Bartlett, Rcco·rds of the Colony of Rhode hland v, 8-14. 11 Potter and Rider, 188-89. " He links her ascendancy with the practice in Rhode Island of electing "both legislative and executive parts of their government" annually, which was an abominable democratic heresy. "· These unfriendly words do not fit the paper money craze of poor farmers but the sophisticated monetary practice of an intelligent and energetic business community which not obly fomented commerce and developed markets but obtained the capital for its enterprise, without interest, from its envious and conservative neighbors.

And our African trade often furnishes them with slaves for their plantations. To all this we beg leave to add that the merchants of Great Britain have, within these twelve months or thereabouts, received seven or eight sail of ships from this Colony for goods imported here of late and sold to the inhabitants. " ... Hereto, we beg leave to add, that within the space of about six or seven years, several of the merchants of Newport have contracted a correspondence in London, procured goods to be sent to them, and thereby so well supplied our shop-keepers that our dependence on Boston hath been in some measure taken off.

Professor H. F. "" Yet the confused notion of paper money crazes and orgies for which poor debtor,S, usually agrarian, were responsible, survives openly still in many works and lurks mischievously between the lines in more. " They are also filled with accounts of the benefits to business of paper money, for which, however, Mr White had only a frosty and unseeing eye. " It is especially unfortunate that such ideas should have penetrated works of general history. They got into Professor Turner's at the very outset.

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