Notes on the Circulating Medium of Philadelphia and Great Britain, 11 November 1792

Notes on the Circulating Medium of Philadelphia and Great Britain

Nov. 11. 1792. Blodget’s calculation of the circulating medium of Philadelphia.

the Bank of U.S. their whole stock   10. Millions.
 
¼ of this payable in gold & silver   2½ M.
of which ¾ only are paid say
double this amount issued in paper   3.
only ⅓ of it here   1.
              
the bank of N.A. has issued   2      
  amount of circulating paper of both banks   3 millions
add the specie in circulation –      

this amounts to 60 D. each (of paper) for every inhabitant.

and the bank of the U.S. draws 10. pr. Cent per ann. profit from that.

              
the circulating cash of Gr. Br. is about 20. millns. £ sterl.
the circulating paper about 30
    50 = 225,000,000 Doll.

which is about 28. Doll. a head on the populn of Gr. Britn.

MS (DLC); entirely in TJ's hand; written on the same sheet as TJ's first 11 Nov. 1792 “Anas” entry, the verso of which contains “Anas” entries for [18–19] and 19 Nov. 1792.