Pietas in patriam the life of His Excellency Sir William Phips, Knt. late Captain…

FROM The time that General Pen made his Attempt upon Hispaniola, with an Army that, like the New English Forces, against Canada, miscarried after an Expectation of having Little to Do, but to Possess and Plunder; Even to this Day, the General Disaster which hath attended, almost every Attempt of the European Colones in America, to make any Considerable Encroachments upon their Neighbours, is a matter of some close Reflection. But of the Disaster, which now befell poor New-England, in particular, every one will easily Conclude, none of the least Consequences to have been, the Extreme Debts, which that Country was now plunged into; there being Forty Thousand pounds, more or less, now to be paid, and not a Penny in the Treasury to pay it withal. In this Extremity, they presently found out an Expedient, which may serve as an Example, for any People, in other parts of the World, whose Distresses may call for a sudden supply of Money to carry them through any Important Expedition. The General Assembly first passed an Act, for the Levying of such a sum of Money as was wanted, within such a Term of Time, as was judged convenient; and this Act was a Fund, on which the Credit of such a Sum, should be rendered passable among the people. Hereupon, there was appointed an Able and Faithful Committee of Gentlemen, who printed from Copper-Plates, a just Number of Bills, and Flourished, Indented, and Contrived them, in such a manner, as to make it Impossible to Counterfeit any of them, without a Speedy Discovery of the Counterfeit: besides which, they were all Signed by the Hands of Three, belonging to that Committee. These Bills being of several Sums, from Two-shillings, to Ten pounds, did confess the Massachuset-Colony, ⟨p. 44⟩to be Indebted unto the Person, in whose Hands they were, the Sums therein expressed; and Provision was made, that if any particular Bills, were Irrecoverably Lost or Torn, or Worn by the Owners, they might be Recruited without any Damage to the whole in General. The public Debts to the Sailors and Soldiers, now upon the point of Mutiny, (for, Arma Tenenti, Omnia dat, qui Justa negat!) were in these Bills paid immediately: but that further Credit might be given thereunto, it was Ordered that they should be Accepted by the Treasurer, and all Officers that were Subordinate unto him, in all public Payments, at Five per cent.

FROM The time that General Pen made his Attempt upon Hispaniola, with an Army that, like the New English Forces, against Canada, miscarried after an Expectation of having Little to Do, but to Possess and Plunder; Even to this Day, the General Disaster which hath attended, almost every Attempt of the European Colones in America, to make any Considerable Encroachments upon their Neighbours, is a matter of some close Reflection. But of the Disaster, which now befell poor New-England, in particular, every one will easily Conclude, none of the least Consequences to have been, the Extreme Debts, which that Country was now plunged into; there being Forty Thousand pounds, more or less, now to be paid, and not a Penny in the Treasury to pay it withal. In this Extremity, they presently found out an Expedient, which may serve as an Example, for any People, in other parts of the World, whose Distresses may call for a sudden supply of Money to carry them through any Important Expedition. The General Assembly first pass'd an Act, for the Levying of such a sum of Money as was wanted, within such a Term of Time, as was judged convenient; and this Act was a Fund, on which the Credit of such a Sum, should be rendered passable among the people. Hereupon, there was appointed an Able and Faithful Committee of Gentlemen, who printed from Copper-Plates, a just Number of Bills, and Florished, Indented, and Contrived them, in such a manner, as to make it Impossible to Counterfeit any of them, without a Speedy Discovery of the Counterfeit: besides which, they were all Signed by the Hands of Three, belonging to that Committee. These Bills being of several Sums, from Two-shillings, to Ten pounds, did confess the Massachuset-Colony,