Excerpt from Emissions of Colonial Currency, in Rhode Island and Massachusetts; The Provincial Currency in Maryland; Historical Sketch of Continental Paper Money
May, 1786. After a hard contest, the paper money party prevailed in the election, and John Collins was elected Governor. A bank of was issued, to be loaned out in the usual manner at four per cent. For seven years, and then one-seventh to be paid annually. These bills were made a legal tender, except for debts due to charitable co orations. Acts were passed in June and August to keep up the credit of t e bills, and repealed in December. In September, 1789, the bills having fallen very low, the law making them a tender was repealed.
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Paperback. Condition: New. Print on Demand. This book delves into the fascinating and complex history of colonial currency in America, specifically in the colonies of Massachusetts and Rhode Island. Through detailed accounts of legal acts, economic trends, and societal reactions, the author explores the evolution of currency from the use of wampumpeage to the introduction of paper money, eventually leading to the emergence of more formalized systems of exchange. The book also sheds light on the challenges and controversies surrounding the various forms of currency, including its impact on trade, public debt, and political power. By tracing the development of colonial currency, this book offers a unique perspective on the economic and social realities of early America, revealing the ingenuity of colonial communities in navigating the complexities of a nascent financial landscape. Ultimately, the book provides a rich and insightful exploration of a critical period in American economic history. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781333508814_0
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LX-9781333508814
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LX-9781333508814
Quantity: 15 available