Excerpt from Petition to His Majesty the King: On the Currency, or Standard of Value
The humble Petition of Richard Cruttwell, Clerk, Bachelor of Civil Law, and Rector of Spexhall, in the County of Suffolk -
Sheweth:
That your Majesty"s petitioner having devoted upwards of ten years to a minute, critical, and impartial investigation of the State of the Currency, as closely connected with most of the embarrassments - public and private - agricultural as well as commercial, with which the country has been, and still continues to be, afflicted; and after having, in the mean time, repeatedly but in vain endeavoured, in the most earnest and respectful manner, to submit the result of his patient and persevering labours to the proper official authorities, by whom (he regrets to say) they have been uniformly treated with the most cold and offensive disdain; he at length feels himself both in Loyalty and Christian Duty called upon, to offer to your Majesty"s gracious consideration, the following representations: the whole of which, he pledges himself to be able to verify by the clearest and most satisfactory reasons.
First - That at the close of the late war, the currency of England - measuring all contracts (all burthens) was, from the actual and unavoidable circumstances of the country, in a state of just and necessary "depreciation," at and after the rate of 50 per cent.
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