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George Bancroft, History of the United States from the Discovery of the American Continent, Vol. 3, 15th edition., Colonial history. (search)
afterwards commissions were issued by two sets of proprietors, of which each had its adherents while a third party, swayed by disgust at the confusion, and also by disputes about land titles, rejected the proprietaries altogether. In the western moiety, Daniel Coxe, as largest owner of the domain, claimed exclu- 1689 sive proprietary powers; yet the people disallowed his claim, rejecting his deputy under the bad name of a Jacobite. In 1691, Coxe conveyed such authority as he had to the West Jersey Society; and in 1692, Andrew Hamilton was accepted in the colony as governor under their commission. Thus did West New Jersey continue, with a short interruption in 1698, till the government was surrendered. But the law officers of 1694 the crown questioned even the temporary settlement, and the lords of trade claimed New Jersey as a royal province, and they proposed a settlement of the ques- 1699 tion by a trial in Westminster Hall on a feigned issue. The proprietaries, threatened
George Bancroft, History of the United States from the Discovery of the American Continent, Vol. 3, 15th edition., Chapter XXIII (search)
had salaries or annuities, was ruinously affected by the fluctuations; that administrators were tempted to delay settlements of estates, as each year diminished the value of the inheritances which were to be paid; and, finally, that commerce was corrupted in its sources by the uncertainty attending the expressions of value in every contract. This uncertainty rapidly pervaded the country. In 1738, the New England currency was worth but one hundred for five hundred; that of New York, New Jersey, Pennsylvania, and Maryland, one hundred for Chap. XXIII.} one hundred and sixty or seventy, or two hundred; of South Carolina, one for eight; while of North Caroli-Na—of all the states the least commercial in its character—the paper was in London esteemed worth but one for fourteen, in the colony but one for ten. And yet the policy itself was not repudiated. The statesmen of England never proposed or desired to raise the do- W<*>. Hamson, II. 42. mestic currency of the colonies to an eq