History of Western Maryland
Volume 3: Frederick County (Contd.), D.C., Montgomery County
J. THOMAS SCHARF
History of Western Maryland, Vol. 3, J. Thomas Scharf
Jazzybee Verlag Jürgen Beck
86450 Altenmünster, Loschberg 9
Deutschland
ISBN: 9783849658663
www.jazzybee-verlag.de
CONTENTS:
CHAPTER XXVIII. BANKS AND OTHER FINANCIAL INSTITUTIONS. 1
CHAPTER XXIX. SECRET ORDERS, BENEVOLENT SOCIETIES, ETC. 15
CHAPTER XXX. PROMINENT INSTITUTIONS AND EVENTS. 27
CHAPTER XXXI. FREDERICK COUNTY DISTRICTS AND VILLAGES. 54
CHAPTER XXXII. INTRODUCTORY. 189
CHAPTER XXXIII. COURTS AND COUNTY OFFICIALS. 228
CHAPTER XXXIV. EDUCATIONAL AND MISCELLANEOUS MATTERS. 249
CHAPTER XXXV. THE DISTRICT OF COLUMBIA. 279
CHAPTER XXXVI. INTERNAL IMPROVEMENTS IN MONTGOMERY COUNTY. 299
CHAPTER XXXVII. MONTGOMERY COUNTY DISTRICTS. 336
FREDERICK COUNTY (CONTD.)
CHAPTER XXVIII. BANKS AND OTHER FINANCIAL INSTITUTIONS.
In 1787, owing to the large amount of " Continental money" which had been issued during the Revolutionary war, and which had depreciated to such an extent that it became almost worthless, gold and silver became very scarce, in fact, almost disappeared from circulation. The House of Delegates of Maryland in order to relieve the stringency passed a bill for the emission of a large amount of paper money. It excited the community very much, as it was calculated to unsettle all the fixed values of land, houses, and stock, and other property in the State and county. The Senate rejected the bill as fraught with much mischief. At a meeting held at Frederick Town, which was largely attended, in February, 1787, the following action was taken:
"Henry Williams, Secretary."
"Frederick County, Feb. 14, 1787.
"At a respectable meeting of the inhabitants of Frederick County, held at Frederick-Town this day, at the request of their delegates, expressed by public advertisements; the abstract of the bill for an emission of paper money on loan, published by the House of Delegates with their address thereon; the message of the Senate accompanying the return of that bill, and their message of the twentieth of January being read, Thomas Sim Lee, Esq., in the chair, and Henry Williams, secretary, the following Resolves were entered into.
" This meeting having taken under consideration the abstract of the bill for an emission of paper money on loan, together with the address of the House of Delegates, are of opinion that an emission of paper money on the plan proposed would not be attended with any real advantage to the people of this country, or the community in general, but that it might ultimately plunge us into disgrace and ruin, by adding to the evils we already suffer.
" Therefore, Resolved, That it is the opinion of this meeting, that the Senate acted wisely in rejecting the bill in question, that the reasons assigned on the subject in their message to the House of Delegates clearly evince to us the propriety of their conduct, and proves that in their deliberation they possessed a firm regard for the welfare and happiness of the people at large, as well as for the dignity and honor of the State, which justly entitles them to the approbation and thanks of their constituents.
" Resolved, That this meeting highly approve of the conduct of three of the delegates of this county, in opposing the passage of the said bill, and that it is hereby recommended to the other delegate who voted in favor of it, to co-operate with them in the opposition should a similar bill be introduced at the next session.
"Resolved, That this meeting approve of the conduct of the Senate, in rejecting the bill for the relief of debtors; which we conceive would have had a direct tendency to destroy confidence between individuals, pervert the streams of justice, and give a fatal stab to our commercial interests.
" Resolved, That we also approve of the conduct of the Senate, in refusing the bill for suspending the law which justly secures permanent salaries to the chancellor and judges agreeably to the spirit of the constitution.
"Resolved, That it is the ardent desire of this meeting to see our excellent constitution preserved inviolate, it being happily calculated to diffuse the blessings of freedom and to secure equal rights — and therefore we are of opinion that every attempt made by either branch of the Legislature to infringe any constitutional privilege of the other ought to be discountenanced.
" Resolved, That it is the opinion and wish of this meeting that every reasonable exertion should be made by the Legislature at this critical period to succor and strengthen the Federal government of the United States, as well as the government of this State; that we will cheerfully render our assistance as far as our circumstances will admit, and that we have full confidence the necessary aids may be afforded without adopting oppressive measures, while the produce of our land sells for its real value in specie, provided the resources of the State are called forth and judiciously applied.
" Resolved, That this meeting will pay due obedience to the laws, and will endeavor to preserve good order in the community.
" Resolved, That this meeting will further make known our sentiments to our immediate representatives on the subjects proposed for our consideration by instructions.
"Resolved, That the chairman be requested to sign the proceedings of this meeting, and that they be published in the Maryland Chronicle, and Baltimore Journal.
" Thomas S. Lee,
" Chairman.
It will be seen from the foregoing that the businessmen of Frederick had thoroughly mastered the leading principles of a sound system of finance, and to the continuous application