II.: Established standards should be inviolably kept, and more especially that of money.

13. The standard measures of a country being once established and known, any deviations from these afterwards could answer no good purpose; but, on the contrary, they must needs be attended with mischievous consequences; they would disturb the arithmetic of the country, confound settled ideas, create perplexities in dealings, and subject the ignorant and unwary to frauds and abuses.

But of all standard measures in any country, that of money is the most important, and what should be most sacredly kept, from any violation or alteration whatsoever. The yard, the bushel, the pound, &c. are applied only to particular commodities; and should they be altered, the people would soon learn to accommodate themselves in their bargains to the new measures; and it is but rare, that these have any retrospect to preceding contracts. But money, is not only an universal measure of the values of all things; but is also at the same time, the equivalent as well as the measure, in all contracts, foreign as well as domestic.

The laws have ordained, that coins having certain denominations, well known to every body, should contain certain assigned quantities of pure or fine silver. This makes our standard of money; and the public faith is guaranty, that the mint shall faithfully and strictly adhere to this standard. It is according to this standard, and under this solemn guaranty, that all our establishments are fixed; all our contracts, public and private, foreign and domestic, are made and regulated.

Is it not self-evident then, that no alteration can be made in the standard of money, without an opprobrious breach of the public faith with all the world; without infringement of private property; without falsifying of all precedent contracts; without the risque at least of producing infinite disorders, distrusts and panics amongst ourselves; as all men would become thereby dubious and insecure as to what might farther be done hereafter; without creating suspicions abroad, that there is some canker in the state; without giving such a shock to our credit, as might not afterwards be easily repaired? These wild and unjustifiable measures, have ever been and ever will be considered, as a kind of public declaration of some inward debility and decay; and the discredit occasioned thereby, has ever proved injurious to those who used them. All payments abroad are regulated by the course of exchange, and that is founded upon the intrinsic values, and not on the mere names of coins. But having once broke the public faith, and curtailed the settled and long established measure of property; foreigners will make ample allowance for what we may do of this kind hereafter; and however we may cheat and rob one another, they will not only secure themselves, but make an advantage of our discredit, by bringing the exchange against us beyond the par. If we think to avert this evil by transporting our coin, our having debased it will avail us nothing.