A thing whereon all Princes lie, 
And as we all express a sigh, 
What man into the world brings in, 
An Indian weed whose leaf is thin, 
A wood by kings esteemed much, 
The part of speech when naming such: 
These Initials join’d declare 
A town where friendly people are.

Which American town is referred to in the riddle?

*** Originally appeared in "Gentleman and Lady's Town and Country Magazine" on May 1784.