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From: Randy Clark <centsitive@gmail.com>
Subject: When Counterfeits are Displaced
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From the August 15, 1785 American Mercury Newspaper, Hartford, CT.
Philadelphia (Aug 2)
The vast increase of counterfeit coppers
in this state, though it may, at the first
view, appear an object of small moment,
merits the attention of the community,
particularly the trading world. The
immense profit made by the traffic of
bringing over this vile trash, is so strong
an inducement, that unless proper steps
are taken to prevent it, the remaining silver
money of the country will be drained away
for it, at one third of its value. It will then
become necessary for the legislature to
interfere: their circulation will probably
be stopped, and every person will suffer
the loss of as many of them as remain in
his hands. It frequently happens, on a
new copper coinage for Ireland, when the
base coin, which had been in circulation,
becomes generally refused, that individuals,
in retailing branches of business, lose
twenty, thirty, forty, fifty, sixty and sometimes
even a hundred pounds, by the quantity remaining
with them. There is an ingenious man in this
city, who understands perfectly well the
management of a mint, and if properly
encouraged, could, with a very small sum
of money, commence a copper coinage,
which would be equal to genuine British
coppers, and besides be giving employment
to several working people,would save the
country the sums of money at present
drawn away for coppers, as well genuine
as counterfeit.
-rc
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