SW_WH1793_Page_210

P.S. I am extremely gratified to hear suchfavourable accounts of Francis Kerr. To your friend-ship and humanity, he owes his being saved frommisery and destruction, and I trust his gratitude willbe commensurate to the extensive obligations heowes you; although, at the same time, I well knowyou consider yourself as amply repaid, in the satis-faction of witnessing his reform, as the result ofyour kind interference in his behalf. Bloomingdale, 9th month, 27th, 1805. ESTEEMED FRIEND, Since I had the pleasure of receiving thy muchesteemed favour of 8th of August in the last year, I have been several times absent on distant journeys,and have not enjoyed my health equal to formeryears, but this is not sufficient to excuse my verygreat neglect, and particularly in not acknowledgingthe receipt of thy very acceptable parcel of books bythe Alexander, for which be pleased accept my sin-cere thanks. I repeatedly intended writing by dif-ferent ships that sailed from New York, but unac-countably put it off from one opportunity to another,and now not being able to justify my neglect, I haveonly to crave thy indulgence in excusing it. The pamphlet on guineas, &;c., by Henry Boner,Esq., afforded me much entertainment and usefulinformation. The subject of paper credit is highlyinteresting, and particularly so to us on this side theAtlantic, where paper currency is largely emited bya great number of banks, spread over almost everystate in the union. The solidity of these establish-ments are rendered exceedingly hazardous, by dis-counting mostly what is termed accommodationnotes, which are renewed and continued at the end of sixty days, and go on year after year. The banknotes issued of course must be very considerable,without any thing solid to represent them, exceptthe credit of the names of the drawer and endorser.