: Benjamin Franklin [1777 
and, by abolishing that monopoly which she labored 
under, she will profit infinitely more than enough to 
repay any debt which she may contract to accom- 
plish it. 
7. Respecting character in the honest payment of 
debts, the punctuality with which America has dis- 
charged her public debts was shown under the first 
head. And the general good disposition of the 
people to such punctuality has been manifested in 
their faithful payment of private debts to England, 
since the commencement of this war. There were 
not wanting some politicians (in America), who pro- 
posed stopping that payment, until peace should be 
restored, alleging that, in the usual course of com- 
merce, and of the credit given, there was always a 
debt existing equal to the trade of eighteen months; 
that, the trade amounting to five millions sterling per 
annum, the debt must be seven millions and a half; 
that this sum paid to the British merchants would 
operate to prevent that distress intended to be 
brought upon Britain by our stoppage of commerce 
with her; for the merchants. receiving this money, 
and no orders with it for further supplies, would 
either lay it out in public funds, or in employing 
manufacturers to accumulate goods for a future 
hungry market in America upon an expected accom- 
modation, by which means the funds would be kept 
up and the manufacturers prevented from murmur- 
ing. But against this it was alleged that injuries 
from ministers should not be revenged on merchants, 
that the credit was in consequence of private con- 
tracts made in confidence of good faith; that these 
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