Year 1694 CE — Many men in the Province of New York, as well as Boston, Philadelphia, and Charleston, have business connections in England and other kingdoms of the
Old World. So it's reasonable to think that they would sail back time to time, correct? But lately many men have been sailing back. It seems to be a trend. The population seems to be decreasing. Why is this? We might have to ask the men when they come back, because none of them have apparently returned. We've asked a merchant, Bartholomew Thispo who frequently goes back and forth between England and New York.
"Well, I see many men often going back and forth, but more so have been taking passage the last couple of weeks. It used to be just a dozen or so of us merchants, but the ships seem to be very full as of late. They're talking about how they're going to get money from businesses that owe them or something related to business connections. I just wonder why so many at once..."
So it does seem like they are going for money, business, etc., but why so many? We've asked our local expert on economics, James Secart:
"Well, I believe some people go occasionaly, from time to time, going only when they need it. But as of late, many people have been going all at once. Why? Well, the old saying goes, 'Monkey see monkey do.' It probably started with one large group going, possibly because they're all together. But other look at the group and see many different individuals going. So they think, 'Oh, maybe I should go as well.' So everyone goes, seeing more and more people going before them. It could also have to do with the recent formation of the Bank of England. Many perhaps worry that the Bank will not succeed and will fail. In this case, people's investments may or may not survive the failing of the bank, so they try to retrieve their money out all at once before this theoretical 'failing' happens. I personally believe that the Bank of England will be very successful."