: 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 accomplish
 it.
7. Respecting character in the honest payment of
debts, the punctuality with which America has discharged
 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 proposed
 stopping that payment, until peace should be
restored, alleging that, in the usual course of commerce,
 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 accommodation,
 by which means the funds would be kept
up and the manufacturers prevented from murmuring.
 But against this it was alleged that injuries
from ministers should not be revenged on merchants,
that the credit was in consequence of private contracts
 made in confidence of good faith; that these

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