What does this quote mean "and they would beat us up if we had diamonds on our watches."

it seems like its from a song called Reagan by Killer Mike.

Explanation:

To me this sounds like people being jealous over other's accomplishments and success.

the committees of correspondence were the american colonies’ means for maintaining communication lines in the years before the revolutionary war. in 1764, boston formed the earliest committee of correspondence to encourage opposition to britain’s stiffening of customs enforcement and prohibition of american paper money. the following year, new york formed a similar committee to keep the other colonies notified of its actions in resisting the stamp act. in 1773, the virginia house of burgesses proposed that each colonial legislature appoint a committee for intercolonial correspondence. the exchanges that followed built solidarity during the turbulent times and bring about the formation of the first continental congress in 1774.