conquering troops, on entering the fort, asked who com manded it; "I did," answered Col. Ledyard, "but you do now;" and presented him his sword, which was instantly plunged into his own bosom. Although resist ance had now ceased, yet, to the indelible infamy of the conquerors, they commenced a merciless slaughter, which was kept up until a greater part of the garrison was killed or wounded." The town of New London, and the stores contained in it, were reduced to ashes; and General Arnold, having completed the object of the expedition, returned in eight days to New York.*

87. Siege of Yorktown, and surrender of Cornwallis.

The 19th of October, 1781, was rendered memorable by the surrender of the British army, consisting of 7000 men, under Cornwallis, at Yorktown, Va. This joyful event decided the revolutionary contest, and laid the foundation for a general peace. About the last of August, Count de Grasse, with a French fleet, arrived in the Chesapeake, and blocked up the British troops who had fortified themselves at Yorktown.

. Previous to this, the American and French troops, under Gen. Washington, had moved to the southward: and as soon as he heard of the arrival of a French fleet, made rapid marches to the head of Elk river, where embarking, the troops soon arrived at Yorktown.

On the 6th of October, the trenches were opened by the combined army, upon his lordship, at the distance of 600 yards. On the 9th, the Americans completed their batteries in the afternoon, and began to play upon the camp of his lordship, with their twenty-fours, eighteens, and ten inch mortars, which continued through the night, without intermission..

The next morning the French opened a terrible fire from their batteries, without intermission, for about eight hours, and on the succeeding night a tremendous fire

Holmes' Annals.

was kept up through the whole line, without intermission, through the night. The horrors of this scene were greatly heightened by the conflagration of two British ships, which were set on fire by the shells, and consumed in the night, October 10th. The next morning another guard ship of the enemy was consumed by the shells of the besiegers, and at the same time they opened their second parallel, at the distance of 200 yards from the enemy's lines.

On the 14th Gen. Washington ordered two battalions to advance to the second parallel, and begin a large battery, upon the centre and in advance. During this operation the enemy kept up an incessant fire, which proved very destructive, and continued through the night.

Gen. Washington detached the Marquis La Fayette at the head of the American light infantry, to storm a redoubt on the left of the British, and about 200 yards in advance of their lines; with full powers to revenge upon the enemy the cruelties practised at New London, and put the captives to the sword. The redoubt was carried at the point of the bayonet; but such was the humanity of these sons of liberty, that the captives were spared, and treated with kindness.

The fire of the allies, and the sickness that prevailed in the British camp, weakened his lordship, and prevented his making such sorties as he otherwise would have done; but the besieged, on the morning of the 16th, made a sortie, with a detachment of about 400 men, under the command of Lieut. Colonel Abercrombie; carried two batteries, which were nearly ready to open their fire, and spiked the cannon. The French suffered severely in defending these batteries, but the British gained no considerable advantage. On the same day, at four in the afternoon, the allies opened their batteries, covered with about 100 pieces of heavy cannon, and such was the destructive fire, that the British works were soon demolished, and silenced. Alarmed for his safety, Lord Cornwallis now began to prepare to retire; his boats were collected, and a part of his army embarked across to Gloucester Point; but a violent

storm arose suddenly, which defeated the plan, and his lordship was enabled, with the greatest difficulty, to re cover his boats, and restore the division that had already been embarked.

His lordship now saw that all hopes of succour or escape had failed, and that the tremendous fire of the allies, with its overwhelming destruction, bore down, killed, and destroyed the British army, so as to compel him to request a parley on the 18th, for twenty-four hours, and that commissioners* might be appointed to draw up the terms of capitulation, to which Gen. Washington assented, and commissioners were appointed accordingly. On the 19th, the articles of capitulation were signed, and on the 20th, the whole army of Cornwallis marched out, prisoners of war.

The spectacle of the surrender was impressive and affecting. The road through which the captive army marched, was lined with spectators. On one side, Gen. Washington, with the American staff, took their station; on the opposite side, was the Count de Rochambeau with the French staff.

"The captive army approached, moving slowly in columns, with grace and precision. Universal silence was observed amidst the vast concourse, and the utmost decency prevailed; exhibiting in demeanour, an awful sense of the vicissitude of human life, mingled with commisseration for the unhappy."

Lord Cornwallis, unable to endure the humiliation of marching at the head of his troops, appointed General O'Hara his representative, who delivered up the sword of Cornwallis to the American commander-in-chief.

The commissioners on the part of the allies, were the Viscount De Noaille and Lieut. Col. Laurens, whose father had been appointed by congress, minister to the court of Versailles, and who was captured by the British on his passage, and confined in the tower at London, where he remained in close confinement at that very time.

8*

88. Washington taking leave of the Army.

The storm of the revolution having subsided, the defi nitive treaty was signed on the 30th of September, 1783, and the 3d of November was fixed on by congress, for disbanding the United States' army. On the day preceding, General Washington gave an affectionate farewell to the soldiers, who, during "the time that tried men's souls," had fought by his side. 'Being now," he said in his address to the army, "to conclude these, my last public orders, to take my ultimate leave in a short time of the military character, and to bid a final adieu to the armies I have so long had the honour to command, I can only again offer in your behalf, my recommendations to our grateful country, and my prayer to the God of armies. May ample justice be done you here, and may the choicest favours, both here and hereafter, attend those, who, under the divine auspices, have secured innumerable blessings for others! With these wishes and this benediction, the commander-in-chief is about to retire from service. The curtain of separation will soon be drawn, and the military scene will be closed for ever."

The officers of the army assembled at New York. Washington was there also, and at parting, thus addressed them:-"With a heart full of love and gratitude, I now take my leave of you. I most devoutly wish that your latter days may be as prosperous and happy as your former ones have been glorious and honourable." Taking each by the hand, he bade them farewell. They then accompanied him to the shores of the Hudson, where he was received in a barge magnificently decorated, and manned with thirteen sea captains-and waving his hat, while the tears started from his eyes, he bade a silent adieu to the companions of his glory.

89. Continental Money.

The expedient of supplying the deficiencies of specie, by emissions of paper bills, was adopted very early in

the colonies. In many instances, these emissions produced good effects. These bills were generally a legal tender, in all colonial or private contracts, and the sums issued did not generally exceed the granted requisite for a medium of trade; they retained their full nominal value in the purchase of commodities. But as they were not received by the British merchants, in payment for their goods, there was a great demand for specie and bills, which occasioned the latter at various times to depreciate. Thus was introduced a difference between the English sterling money, and the currencies of the different states, which remains to this day.*

The advantages the colonies had derived from paper currency under the British government, suggested to congress, in 1775, the idea of issuing bills for the purpose of carrying on the war. And this, perhaps, was the only expedient. They could not raise money by taxation, and it could not be borrowed. The first emissions had no other effect upon the medium of commerce, than to drive the specie from circulation. But when the paper substituted for specie, had, by repeated emissions, augmented the sum in circulation, much beyond the usual sum in specie, the bills began to lose their value. The depreciation continued, in proportion to the sums. emitted, until one hundred paper dollars were hardly an equivalent for one Spanish milled dollar. With this depreciated paper was the army paid; and from 1775 to 1781, this currency was almost the only medium of trade, until the sum in circulation amounted to two hundred millions of dollars. But about the year 1780, specie be gan to be plentiful, being introduced by the French army, a private trade with the Spanish islands, and an illicit intercourse with the British garrison in New York. This circumstance accelerated the depreciation of the paper bills, until their value had sunk to almost nothing. In

A dollar in sterling money is 4s. 6d. But the price of a dollar rose in New England currency to 6s.; in New York, to Ss.; in New Jersey, Pennsylvania, and Maryland, to 78. 6d. ; in Virginia, to 6s.; in North Carolina, to 88.; in South Carolina and Georgia, to 48. 8d. This difference, originating between paper and specie, or bills, continued afterwards to exist in the nominal estimation of gold and silFranklin's Miscellaneous Works.

ver.