The Pamphlet Collection of Sir Robert Stout: Volume 37
Excess of paper will produce excess of trading, and both will end badly. The issues of paper-money were carried on to a monstrous extent by acceptances. I know three men in one connection, and live in another (not as partners), who contrived to get out, and keep out, nearly halfmillion of their bills; and it appears that they only wanted a little more time to make the large business profitable in which they embarked and supported. They have all failed but one, and have put upwards of three hundred persons out of employment. Such things as these were carried on to a monstrous extent.