amount of his debt of labour. On the other hand, the merchant, tradesman, or artificer, who receives fuch an indenture from a poor labourer, can immediately realize the value of it in his own favour, by paying it into the public Exchequer, or bank of the township; where, of course, it will be pofted to the credit of his accompt of labour, and will enable him to redeem a part of his own indentures, without his own personal labour, which, of course, is much more valuable than ordinary labour; and in like manner he will proceed with all other indentures for ordinary labour, that he has procured by his traffic, or more valuable occupation, always paying them to the credit of his account at the bank, until the amount exceeds his own debt for public fervice: when, from the balance of labour in his favour, according to the amount of it, he will always be at liberty to draw on the bank for indentures of days

work, either for circulation, as ready cash, or for labourers, to cultivate his own lot of land, or else occafionally to accommodate planters who want labourers, and are willing to pay the value of them, in produce, &c. whereby private credit (as well as public credit, already provided for) will be amply supported: and the indentures for labour, by which this most effential public and private service is effected, will be, in fact, A PAPER CURRENCY OF INTRINSIC VALUE, an

fwering all the purposes of ready cash, as a medium of traffic, as well as all the neceffary purposes of negociable bills, to fupport public and private credit; and yet they cannot be, at all, liable to depreciation!

The advantages appear to me fo great and extraordinary, that I can hardly give credit, as I proceed, to my own estimation of them; and am inclined to fufpect

that

that I am, in fome way or other, enormoufly mistaken; but as I cannot yet find out my error, I must leave my cenfure to fome more able head. A few obvious objections, however, I am prepared to remove by a timely propofal of adequate remedies. As for inftance-Whatever might be deemed troublesome, or difagreeable, in exacting the payment of thefe debts of labour, may be effectually withdrawn from individuals, by investing the public bank of each township with the fole authority of demanding the labour for the indentures, that have been refpectively entered and certified therein. And that the feveral banks may be enabled to realize the value of these indentures, all applications either for labourers, or labour, fhall be made at the feveral town banks; where planters. may be fure of a fupply of labourers, and the labourer equally fure of a conftant fupply of work, without danger of op

preffion

preffion, or non payment of wages,. being fecured from both by the mediation of the bank, which employs him, and difpofes of his fervice. And both parties, or at least, the planters, ought to pay fome small allowance per cent. to the bank, by way of commiffion, or profit for the negociation. And each bank should regularly fummon, (with due previous notice for every day) a fufficient number of the indentured labourers that are entered on their books, not only to cultivate the public lots of land under their care, but alfo to fupply the current daily demand of labour that may be wanted by planters and other private individuals; but all perfons fummoned to labour, fhall work on the public lots, until fuch demands are made, by which means the labourers will lofe no time in waiting for work. The daily fummonfes to labour, iffued from the bank, fhould be made in due rotation, according

to the dates of the indentures entered on the books, and according to the quantity of debt which each individual has to work out. And, that no man may run deeper in debt, by difpoling of his labour to a greater amount than he may be able to discharge in due time, all indentures whatsoever for the labour either of apprentices or fervants, fhould be entered at the bank of the township, where the parties refide, whereby not only the state of every labourer's debt may be always known, and, of courie, likewfe his ability to discharge it, but also, on the other hand, the labourers, apprentices, and fervants themselves, will be thereby more eafily protected from the oppreffion of such avaritious mafters, as might otherwife be inclined to exact more fervice than is due by the terms of their contract.

If any perfon fhould die before his indentured fervice is difcharged to the