>.CK 
 SEX 
 
 5 
 
 069 
 
 441 
 
 
 AN HISTORICAL SKETCH 
 
 
 OP 
 
 IE PAPER MONEY 
 
 ;:D BY 
 
 TOGETHER WITH A 
 
 COMPLETE LIST OF ALL THE DATE- .MOUNTS, 
 
 DENOMINATIONS, AND SIGNERS. 
 
 BY A MEMBER OF THE NUMISMATIC SOCIETY OF PHILADELPHIA. 
 
 na 
 
 PHILADELPHIA : 
 
 PUBLISHED BY A. C. KLINE, No. 824 WALNUT STREET. 
 
 1862.
 
 AN HISTORICAL SKETCH 
 
 OF 
 
 ISSUED BY 
 
 TOGETHER WITH A 
 
 COMPLETE LIST OF ALL THE DATES, ISSUES, AMOUNTS, 
 DENOMINATIONS, AND SIGNERS. 
 
 BY A MEMBER THE NUMISMATIC SOCIETY OF PHILADELPHIA. 
 
 PHILADELPHIA : 
 
 PUBLISHED BY A. C. KLINE, No. 824 WALNUT STREET. 
 1862.
 
 Entered according to Act of Congress, in the year 1862, by 
 THE AUTHOR, 
 
 In the Clerk's Office of the District Court of the United States for the 
 Eastern District of Pennsylvania.
 
 PREFACE. 
 
 Inquiry has, within the last few years, been turned to the subject of 
 the paper money issued by the American Colonies, and many persons 
 are engaged in forming collections of specimens; by them, the want of 
 such a book as this is designed to be, is much felt, and to them the 
 author (or compiler,) believes it will prove a great help. It is the first 
 of a series he contemplates preparing on the issues of the Colonies and 
 of the United States ; and although the ground is new. it is believed 
 there are no material errors in the present production. 
 
 In conclusion, the author would acknowledge his obligations to kind 
 friends, both in this and other cities, who have greatly assisted him in 
 his self-imposed task, and without whose aid he probably might never 
 have been able to complete his undertaking. 
 
 H. P., Jr. 
 
 Philadelphia, March 29, 1862.
 
 INDEX. 
 
 PREFACE, 3 
 
 HISTORICAL SKETCH, 7 
 
 LIST OF ISSUES, &c . . .27
 
 HISTORICAL SKETCH, &c. 
 
 Pennsylvania lingered long behind her sister colonies 
 in the emission of paper money ; not until after many 
 years had elapsed, during which they had experienced 
 the advantages and disadvantages of a paper circulating 
 medium founded upon the Public Credit, did she venture 
 to take upon herself such a responsibility. Nor did she 
 rashly or unadvisedly set herself to the task ; the fate 
 that had befallen the notes issued by the New England 
 Colonies, and by the Carolinas, and the great losses caused 
 by their depreciation, warned her against yielding too 
 much to the prevalent mania for a paper currency, and, 
 as prudence guided her rulers, she, till a late period, 
 was free from the calamitous events which excessive 
 and ill-guarded issues brought upon the others. To 
 show how cautiously she proceeded, the early history 
 will be dilated upon at some length, but no greater 
 space will be occupied than its importance deserves. 
 
 From the year 1721 a paper currency had been con- 
 templated and discussed, but it was not until two years 
 afterwards that active measures were taken to produce 
 one. 
 
 On the second of January, A. D. 1723, a petition was 
 presented to the House of Assembly of Pennsylvania
 
 8 
 
 from a number of merchants and others, inhabitants of 
 the City of Philadelphia, setting forth " that they were 
 sensibly aggrieved in their estates and dealings to the 
 great loss and growing ruin of themselves, and the evident 
 decay of the Province in general, for want of a medium 
 to buy and sell with" and praying that a paper currency 
 might be established. 
 
 On the eighth of the same month, the House resolved 
 " that it was necessary that a quantity of paper money, 
 founded on a good scheme, should be struck and 
 imprinted," and the same time fixed the value of the 
 dollar at five shillings. Several interchanges of opinion 
 took place between the Assembly and the Governor, 
 resulting, on the twenty-second of March, 1723, in the 
 passage of an act for emitting fifteen thousand pounds. 
 Knowing that an over issue produced depreciation, and 
 that depreciation was the great danger to be guarded 
 against, with the warning examples constantly before 
 their eyes, at first they were content with emitting but 
 this moderate sum. 
 
 The Bills were to be loaned out on land security or 
 plate of treble value, (at five shillings per ounce,) depo- 
 sited at the Loan Office, and at five per cent, interest ; 
 they were made a tender in payments of all kinds, under 
 penalty of voiding the debt, or forfeiting the commodity, 
 and annual payments were to be made of the interest, 
 together with one-eighth of the principal. To sign 
 them, four gentlemen were appointed, for which service 
 they were each to receive twenty pounds. A Loan 
 Office for their emission was created, and Samuel Car- 
 penter, Jeremiah Langhorne, William Fishbourne,* 
 
 * At a later period (Feb. 2, 1731) William Fishbourne *as discharged from 
 his office for fraud and embezzlement.
 
 and Nathaniel Newlin, were appointed Trustees, to be 
 paid annually a salary of fifty pounds each. 
 
 The preamble of the act recites the difficulties under 
 which the Colony labored for want of a currency, and 
 the act itself gives full particulars, together with the 
 form of the Bill, as follows : 
 
 " THIS Indented Bill of .... current money of Am- 
 erica according to the act of Parliament made in the 
 sixth year of the late Queen ANNE for ascertaining the 
 rates of foreign coins in the Plantations due from the Pro- 
 vince of Pennsylvania to the Possessor thereof shall be in 
 Value equal to money and be accepted accordingly by the 
 Provincial Treasurer, County Treasurer and the Trustees for the 
 General Loan Office for the Province of Pennsylvania in all 
 publick payments and for any fund at any time in any of the 
 said Treasuries and Loan Office. Dated at Philadelphia, the 
 . . . day of .... in the year of our LORD 
 one thousand seven hundred and twenty-three by order 
 of the Governor and General Assembly." 
 
 Upon them, about the middle of the left side were to 
 be impressed the arms of Pennsylvania. Several sup- 
 plements were passed during the same year, amending 
 and qualifying sundry sections of the act, but are not 
 of importance. 
 
 So great were the benefits that accrued to the Province 
 by this addition to their currency, and so immediately 
 were they felt, that, in December, a further issue of 
 thirty thousand pounds was ordered to be made upon the 
 same terms as the previous one. 
 
 In March,* 1725-6, an act was passed for re-emitting 
 and continuing the currency of the Bills as they came 
 
 March 5.
 
 10 
 
 back into the Office, and for striking a further sum of 
 ten thousand pounds to replace those that had become 
 torn or defaced. This amount did not add to the cur- 
 rency in circulation, which remained as before 45,000. 
 
 In October a letter was received by the Governor 
 from the Lords of Trade, &c., in England, dated May 
 llth, in reference to the two emissions of 1723, and 
 their supplements. 
 
 It set forth the evil consequences that had .resulted in 
 the other colonies from the issuing of Bills of Credit, 
 and stated " that naught restrained them from laying 
 these bills before His Majesty to be repealed,* save 
 tenderness alone to the innocent holders in whose hands 
 they might be, and if any further acts were passed, 
 creating more Bills of Credit, in addition to those 
 already issued, means would be taken to have them dis- 
 allowed ;" and it concluded by requesting " that the 
 funds appropriated for the payment of these bills should 
 be duly applied." 
 
 This letter the Governor transmitted to the Assembly, 
 with a message stating that the act which had passed 
 early in this year, before its receipt, should be laid before 
 the Lords of Trade and their approval secured ; and as 
 it did not increase the existing currency, no objections 
 were made. 
 
 The bills soon become the prey of rogues, who suc- 
 cessfully counterfeited them, to an alarming extent, 
 though at the risk of a severe punishment. The acts 
 
 " This in one instance was actually done. An inordinate issue of paper money, 
 made by Barbadoes, in 1706, was, after several years disallowed, although the 
 bills had been long in circulation, and great sufferings resulted from their repu- 
 diation.
 
 11 
 
 provided that counterfeiting should be punished by the 
 loss of both ears, by a fine of one hundred pounds, and 
 a payment of double the value of the loss sustained by 
 those aggrieved by the fraudulent bills ; and in case of 
 inability to pay these sums the offender was to be sold 
 into service for seven years. 
 
 But this did not prevent large quantities of fraudu- 
 lent paper from being put in circulation, which appears to 
 have been chiefly manufactured in Ireland and exported 
 hither. In New Jersey it was so successfully practised, 
 that within four years after their first emission it was 
 found necessary to call in the whole, as it was not pos- 
 sible to discern between the good and bad notes. 
 
 To remedy this, on the bills emitted by Pennsylvania 
 in 1726, there was ordered to be imprinted the figure of 
 a crown on those of five shillings, of two crowns on those 
 of ten, three on those of fifteen, and four on those of 
 twenty shillings. This simple device was held to afford 
 sufficient protection against fraud in the state of the arts 
 then existing in the Province. 
 
 As the expiration of the eight years drew near, the 
 term to which the forty-five thousand pounds had been 
 limited, great uneasiness was felt at the approaching 
 withdrawal from circulation of so much value, and it 
 was feared that the Colony would soon be left without 
 currency proportioned to its commercial requirements. 
 To remedy this, in May, 1729, Patrick Gordon, the then 
 Governor, in direct contravention of the instructions of 
 the Lords of Trade, but believing the great wants of the 
 Colony and its real welfare to be his sufficient excuse, 
 gave his assent 'to a law authorizing the issue of thirty 
 thousand pounds in Bills of Credit, to be loaned upon the
 
 12 
 
 same terms as the former emissions, and to be redeemed 
 by the annual payment of one-sixteenth part of the 
 principal, as well as the accrued interest; and in 1731, 
 on the expiration of the time originally limited, the pre- 
 vious issues were renewed by Act of Assembly, and 
 forty thousand pounds in new bills were ordered to be 
 struck, to be exchanged for bills emitted before August 
 10, 1728, which bills were after the firet of March, 
 1731-2 to be irredeemable. 
 
 The Colony now had a seemingly sufficient currency 
 for its needs of trade, and accordingly not until 1739 is 
 there a record of other issues; in that year it was deemed 
 advisable to call in all the bills then in circulation, and 
 to replace them with others of a new impression. 
 
 A Committee appointed by the Assembly on the state 
 of the currency, reported that 
 
 " In 1723 there were emitted, - - 45,000 
 Of which in 1726 were 
 burnt, 6,110 5s. 
 
 In 1729 there were emitted, - - 30,000 
 And that the amount now in circu- 
 lation, was 68,889 15s." 
 
 which was not deemed sufficient, and a further issue of 
 11,110 5s. was recommended. This amount making 
 in all 80,000 was, therefore, enacted into a law. 
 
 Accompanying this report was the following table of 
 the price of gold and silver from 1700 until that time :
 
 13 
 
 GOLD. SILVER. 
 
 1700 to 1709 5 10s. per ounce. 9s. Id. per ounce. 
 
 1709 to 1720 5 10s. 
 
 1720 to 1723 5 10s. 
 
 1723 to 1726 6 6s. 6rf. 
 
 1726 to 1730 6 3s. 9rf. 
 
 7*. 5rf. 
 
 8s. 3rf. 
 
 St. Id. 
 
 St. 9d. 
 
 1730 to 1738 6 3. 9rf. 
 
 And now in 1739 gold is purchased and sold at 6. 9*. 3d. per oz., and silver 
 at 8. 6</. per oz. 
 
 Philadelphia, November 23d, 1739." 
 
 The punishment for counterfeiting was now changed 
 to death, and the former penalty was reserved for those 
 who altered notes from lower denominations to higher 
 ones. 
 
 During all this time, the notes having ample provi- 
 sion made for their ultimate extinction* circulated 
 freely at their value, superceding the bills of other 
 colonies, which had until then constituted the chief 
 part of the currency. The only persons who refused 
 them were the Proprietaries, who demanded and re- 
 ceived in payment of their Quit Rents the difference of 
 exchange on England, and an annuity of 130 per 
 annum during the currency of the notes. Their con- 
 duct gave rise to much animadversion, and sowed the 
 seeds of future trouble between them and the colony. 
 
 No further legislation was now needed until 1744, 
 when a sum of ten thousand pounds was emitted to 
 replace old torn or ragged notes; this did not add to 
 the gross amount in circulation. The Lords of Trade 
 in England had for some time been inquiring into the 
 state of the paper money issued by the colonies, and in 
 answer to them in 1749 a report was prepared by a 
 
 * Of the old 68,889 15*. there has been destroyed by the State Treasurer 
 66,966 12s.
 
 14 
 
 Committee of the Assembly for transmission to Eng- 
 land. It stated that "in 1745 the currency of the 
 80,000 was continued for sixteen years. That in 
 1746 a further sum of 5,000 was emitted in Bills of 
 Credit for the King's use, to go towards equipping the 
 Canada expedition. That the amount therefore in cir- 
 culation, 55,000, was not sufficient for the wants of 
 the colony," and praying for a further issue of notes. 
 This, however, could only be granted to a limited ex- 
 tent, and in October there were emitted five thousand 
 pounds to exchange for old and torn notes, and to serve 
 for change. They were therefore of small denomina- 
 
 */ 
 
 tions, and we find by subsequent Treasurers' reports, 
 from year to year, that in 1759 the last bills of this 
 emission were entirely destroyed.* These early notes 
 from 1745 and until about 1767, possess an interest 
 from the fact of their having been printed by Franklin, 
 either alone or in partnership with Hall. 
 
 In 1753 began a struggle that lasted for several 
 years between the Assembly, the representative of the 
 people and their wants, and the Governor, the deputy 
 of the Proprietaries. The very general need of more 
 circulating medium led during the session to the fram- 
 ing of several acts for emitting Bills of Credit; these 
 the Governor holding himself strictly bound by the 
 instructions of the Lords of Trade not to pass any such 
 bills without a clause suspending their operation until 
 the King's pleasure should be known, either refused to 
 assent to, or else returned them with amendments, 
 which the House considering as encroachments on their 
 liberties refused to accept. 
 
 * Of the bills of 1746 the last were destroyed in 1757.
 
 15 
 
 In February of the following year, the House adopted 
 the following resolutions : 
 
 " 1st. That it is necessary the paper money of this Pro- 
 vince should be re-emitted for a further time. 
 
 2d. That there is a necessity of a further addition to 
 the paper money of this Province. 
 
 3d. That there is a necessity that a sum should be 
 struck to exchange the ragged and torn biUs now current 
 by Jaw in this Province" 
 
 Accordingly several bills were successively prepared 
 and passed by the Assembly, but against which the 
 same circumstances operated to prevent their becoming 
 laws. 
 
 In August r at a special Session of the Assembly, in 
 consequence of the danger from the border Indians 
 being imminent, a bill for issuing 35,000, whereof 
 15,000 should go to the King's use for the protection 
 of the frontier, was passed, but amendments being there- 
 unto added by the Governor, it failed to receive the 
 sanction of the House. 
 
 In March, 1755, a bill was passed, granting 30,000 
 to the King's use, to be emitted in Bills of Credit, for 
 the support of Braddock's expedition ; this the Governor 
 returned, with a message stating that the House, in 
 defiance of him, by its mere resolves had put in circula- 
 tion fifteen thousand pounds in Bills of Credit, payable to 
 bearer, and although the House refuted this, by show- 
 ing that they were merely bills drawn on the Provincial 
 Treasurer* in payment of stores for the expedition, yet 
 his assent was not given to its becoming a law. 
 
 * These bills appear, by subsequent Treasurers' reports, to have been entirely 
 destroyed.
 
 16 
 
 On the 21st of June the Assembly passed two bills, 
 one emitting ten thousand pounds for exchanging the old 
 and torn bills then in circulation ; the other for issuing 
 fifteen thousand pounds, in Bills of Credit, for the King's 
 use. 
 
 In reply, the Governor acknowledged the necessity in 
 the Colony of more Bills of Credit, but desiring to know 
 how much of the former appropriation for exchanging 
 the old and torn Bills still remained in the hands of the 
 Trustees stating that at the last settlement the sum 
 was 3,302 6s. Sd. Being answered that the amount 
 now remaining was 1,302 6s. &d., he gave his sanction 
 to the act for emitting the ten thousand pounds, but to 
 the fifteen thousand pounds act he added amendments, 
 which, not being concurred in by the House, caused 
 its total loss. 
 
 A new system of finance was in these bills inau- 
 gurated. Heretofore the notes issued had been loaned 
 out at interest as so much money, and w r ere payable in 
 certain instalments. Trade had prospered, imports had 
 increased, the notes themselves were eagerly sought for 
 in the other Colonies; public improvements, stores, 
 dwelling houses, &c., had been erected on these loans, 
 the terms of which were much more favorable than 
 could have been obtained from a private individual, and 
 could this course have been for ever continued, loss by 
 depreciation would never have resulted. But the 
 exigencies of the Colony no longer permitted this cau- 
 tious procedure, that had so greatly benefited it.* 
 
 * This cautious policy had been approved of in England, and Pennsylvania 
 was exempted from the provisions of an Act of Parliament, passed in 1751, to 
 restrain the Northern Colonies from further issues of paper money. 
 
 Governor Pownell bestows high praise on this paper system : " I will venture
 
 17 
 
 Large sums were required for instant use, loans could 
 not be had, and there were no means of obtaining the 
 desired amounts, except by anticipating the revenues of 
 the future and emitting Bills of Credit, to be redeemed 
 by taxation within given periods. The taxation was 
 the cause of the struggle between the people and the 
 Governor, as the lands of the Proprietaries were taxed 
 in the same manner as all the others in the Province ; 
 to this they objected, and in their instructions to their 
 Deputy, forbade him to pass any law containing any 
 such clause. The people believing that with them- 
 selves alone resided the right of taxation, strenuously 
 and, in the end, successfully resisted this what they 
 deemed an attempted usurpation of their powers. 
 
 As their wants became known the Legislature hesi- 
 tated less and less to grant the desired relief, and large 
 sums were voted from time to time, for various causes, 
 to which the Governor, after unavailing struggles but 
 wearied with the long contest, was obliged to give his 
 assent. 
 
 After Braddock's defeat sixty thousand pounds were 
 raised for the King's use, whereof fifty-five thousand 
 pounds were to be emitted in Bills of Credit, bearing 
 date January 1, 1756, and redeemable by taxation; and 
 in August, 1756, after the usual contention, an issue of 
 thirty thousand pounds was made, redeemable in ten 
 years. 
 
 The public exigencies and the alarming situation of 
 
 to say," he declares, " that there never was a wiser nor better measure, never 
 one better calculated to serve the interests of our increasing country, that there 
 never was a measure more steadily pursued or more faithfully executed, for 
 forty years together, than the Loan Office in Pennsylvania, founded and adminis- 
 tered by the Assembly of that Province." 
 
 2
 
 18 
 
 the Colony caused these laws to be passed, notwith- 
 standing their containing the objectionable features. 
 
 In 1757 the support of the government obtained (in 
 two instalments) an issue of 100,000; and in the next 
 year a further emission to the same amount was made ; 
 and again in April, 1759, a law was passed issuing 
 100,000 for the support of the government of the 
 Province ; and in June another, to emit 3.6,650, to 
 re-imburse the military agent for the Colonies at Phila- 
 delphia.* The Council of the Governor objected to the 
 passage of the latter act, not considering it necessary, as 
 there were then in circulation bills to the amount of 
 385,000, but being passed against their dissent, it was 
 repealed by the King and Council in June, 1760; and 
 the larger act would have shared the same fate, had not 
 Benjamin Franklin and Robert Charles, who were at 
 that time the agents in London for the Province, 
 engaged that the Legislature should expunge the objec- 
 tionable clauses, and render the bill of a proper nature. 
 
 Between 1760 and 1769, there were issued 175,000, 
 and during the same period there were destroyed bills 
 to the amount of nearly 200,000 ;f and, in 1769, two 
 more issues added 30,000 to the currency and to the 
 debt of the Province. The first issue of that year 
 (date March 1st, in amount 16,000) was very exten- 
 
 * The notes ordered by this law were actually emitted, and there has been 
 destroyed of them about 35.705. 
 
 j- In 1766 an effort was made to supply an alleged deficiency of the circulating 
 medium by emission of promissory notes by an association of merchants of the 
 City of Philadelphia. These notes were to the amount of 20,000, of (he 
 denomination of 5 each, with 5 per cent, interest, payable on demand ; and 
 although they were declared by the Attorney General of England not to con- 
 travene the laws, yet, in consequence of remonstrances being presented to the 
 Assembly, this early attempt at banking proved abortive.
 
 19 
 
 sively counterfeited, and in 1773 Governor Richard 
 Penn issued a proclamation offering 500 reward for 
 the detection of the offenders; of this issue, 15,522 
 16. have been destroyed. 
 
 The second issue was for the aid of the managers of 
 the Alms house in Philadelphia, and is expressed on its 
 face to be issued by the " Treasurer of the Contributors 
 for the relief of the Poor."* 
 
 In 1771, great alarm was felt at the hostility mani- 
 fested towards the colonies by the French, and in March 
 an act was passed to emit $15,000 for the defence of 
 Philadelphia; never having been actually called into 
 use for that purpose, the surplus was applied to paving 
 and grading the streets of the City.f 
 
 The temptation to issue large sums, payable in the 
 future, still hovered around the Legislature, and in the 
 following year 25,000 were emitted for the support of 
 the Government.^ 
 
 In 1773 two emissions took place; the earlier, 
 amounting to 12,000, and bearing date the 20th of 
 March, was for the support of the Light House at Cape 
 Henlopen, and for the purpose of placing buoys, &c., in 
 the Delaware river and bay ; these notes bear on the 
 reverse a representation of a light house with ships, 
 buoys, &c., and on the face around the sides are printed 
 the words " Light House, Pier, and Buoys." Another 
 issue (in amount 6,000) and bearing the same devices, 
 was made in the early part of 1775. 
 
 The second emission of this year (1773) bearing date 
 
 * Of this issue there have been destroyed 3,207 Os. 8d. 
 f Of this issue there have been destroyed 9,924 10s. 
 J Of this issue there have been destroyed 9,416 Os. 2d.
 
 20 
 
 October 1, to the amount of 150,000, is only remark- 
 able on account of recurrence being made to the old Loan 
 Office system j but the times had changed, and the device 
 was no longer a fortunate one. 
 
 The next noticeable issue is that dated April the 
 10th, 1775, and was for the purpose of erecting a jail 
 in Philadelphia ; it bears on its reverse a representation 
 of that building, which was the edifice long known as 
 "The Walnut-street Prison." These notes are com- 
 monly, but incorrectly believed to represent the Inde- 
 pendence Hall. 
 
 The early notes of the Colony seem to have kept their 
 credit well, and had not the Revolution intervened, 
 they would all have been redeemed at par, as ample 
 funds were always provided by taxation or excise 
 duty, in the same act that issued the bills for their gra- 
 dual but certain extinction ; and in the annual reports 
 presented by the Treasurer of the Colony to the Assem- 
 bly, mention is always made of Bills of Credit brought 
 in and destroyed. 
 
 But the battle of Lexington aroused the Colony. On 
 the 30th of June, 1775, a Provisional Government was 
 appointed by the Assembly, called a <k Committee of 
 Safety" to look to the defence and arming of the Colony ; 
 and to carry into effect the objects of their appointment, 
 the Assembly resolved to emit the sum of 35,000 in 
 Bills of Credit, to bear date July 20th, 1775. The 
 mere issuing of these bills was an act of rebellion, as 
 they were emitted by the mere resolve of the Assembly 
 in defiance of their charter, and without reference to 
 the Governor ; and yet these notes, and those issued by 
 resolution of Nov. 18th, same year, (bearing date
 
 21 
 
 Dec. 8,) and of April 8, 1776, (date April 25,) still 
 hold in its accustomed place the name of " his Majesty, 
 King George the Third." 
 
 Long afterwards these bills were known and spoken 
 of in Acts of Assembly as " the resolve money," taking 
 the name from the circumstances of their issue. 
 
 In March, 1777, it was resolved to emit 200,000 for 
 the support of the army, and here the authority of 
 " the Commonwealth of Pennsylvania" appears for the 
 first time.* Various laws had been passed from time 
 to time to call in the bills emitted during the dominion 
 of Great Britain, and in 1778, Congress requested the 
 States to end the currency of notes issued prior to the 
 19th of April, 1775, as they had fallen into the hands 
 of persons unfriendly to the new Government who held 
 them, and made a discrimination in their favor, believ- 
 ing that they would ultimately be redeemed, whether 
 the subsequent ones were or not ; by this means causing 
 the notes issued by the authority of Congress and of the 
 several States to depreciate in value. Accordingly on 
 the 23d of March, 1778, the Legislature passed an act 
 declaring such notes no longer to be a legal tender after 
 the first of June, but that until that time they might 
 be received at the treasury in payment of taxes, in ex- 
 change for later notes, &c. In the case of non-residents, 
 the time for presenting them was extended to the first 
 day of August ; and by a subsequent act, the issue of 
 September 30th, (date Oct. 25th,) 1775, of 22,000 for 
 the support of the Government was included within its 
 provisions. 
 
 * These notes seem to be of two varieties ; one being printed in red ink, the 
 other in black.
 
 22 
 
 Previous to this, Pennsylvania had by a law passed 
 in January, 1777, made the Congress issues a legal 
 tender, and had imposed penalties on refusing to receive 
 them, and on counterfeiting or altering them. 
 
 In March, 1780, the State emitted 100,000 for the 
 support of the army, and to provide a fund for their 
 redemption the Executive was empowered to sell cer- 
 tain properties in the City of Philadelphia, as well as 
 Province Island in the township of Kingsessing :* so 
 well have these provisions been carried into effect that 
 not a vestige of the notes now remain. The act under 
 which these notes were issued is a striking example of 
 how the most consummate tyranny may be exercised 
 by even the most zealous devotees of liberty ; not con- 
 tent with making them a legal tender, with declaring a 
 refusal to take them an acquittance of the debt, by a 
 supplement passed in the following December, they in- 
 flicted upon the first offence, a fine in value of double 
 the sum offered ; and upon the second, imprisonment to 
 last during the war, together with confiscation of one- 
 half of the offenders lands, goods and chattels. 
 
 About the same time Congress passed a resolution 
 calling on the States to contribute in certain propor- 
 tions towards the support of the Government, and for 
 that purpose they were to emit notes of a certain fixed 
 form, the same for all the States, bearing interest and 
 redeemable in six years, of which as well as of the 
 principal the United States guaranteed the payment, 
 and " would draw bills of exchange therefor when there- 
 unto requested." Accordingly in June, Pennsylvania 
 
 * These bills became known as "the Island money" from that circumstance.
 
 23 
 
 emitted $1,250,000 in notes, that long after bore the 
 name of " the dollar money" In May, an act had been 
 passed to receive the old continental money, at one 
 dollar in specie for forty in notes, and this emission was 
 to be issued as specie on that basis. 
 
 In October a scale of depreciation was adopted, and 
 certificates of pay due to the Pennsylvania Line, founded 
 thereon, were issued, receivable in payment for the Public 
 Lands, and the depreciation was ordered to be ascer- 
 tained and published every month in the Philadelphia 
 Gazettes. In April, 1781, the following scale of the 
 depreciation of paper compared with silver and gold was 
 adopted by the Legislature : 
 
 1777 1778 1779 1780 1(81 
 
 January 1J 4 8 40 75 
 
 February 1 5 10 47 75 
 
 March 2 5 10J 61J 00 
 
 April 2 6 17 61J . 00 
 
 May 1\ 5 24 59 00 
 
 June 2J 4 20 61J 00 
 
 July 3 4 19 64 00 
 
 August 3 5 20 70 00 
 
 September 3 5 24 72 00 
 
 October 3 5 30 73 00 
 
 November 3 6 38J 74 00 
 
 December 4 6 41$ 75 00 
 
 And at the same time jive hundred thousand pounds 
 were ordered to be emitted for the support of the army, 
 of which 200,000 were to replace the issue of 1777, 
 and the old currency at the depreciated value 
 according to the scale. Ample funds were pledged to 
 the redemption of this issue, and according to the report 
 of the State Treasurer in 1805, there remained out- 
 standing and unredeemed only 4,140 3s. Id. By this
 
 24 
 
 act, (1781), the dollar was now legally rated at seven 
 shillings and sixpence. 
 
 In June the old Continental bills and the " resolve 
 money" were declared to be no longer a legal tender, 
 and could be received only at the Treasury and at their, 
 current value. Acts were passed from time to time to 
 facilitate the calling in the Bills of Credit, and to increase 
 the objects for which they could be received in payments 
 at the Treasury. 
 
 In 1783 a small issue of Treasury notes took place, 
 which has been entirely redeemed, and no further emis- 
 sion was made until March, 1785, when, after a long 
 discussion, and the rise, as in other States about the 
 same time, of a paper money party, the great need of a 
 currency led to the striking of one hundred and fifty 
 thousand pounds in Bills of Credit, to be loaned out as 
 former issues had been ; funds sufficient were set apart 
 for their redemption^ and ,20,000 were directed to be 
 annually destroyed, yet, confidence was not placed in 
 them, and so rapid a depreciation ensued, that shortly 
 afterwards a supplementary act was passed to call them 
 in much sooner than had been originally designed. 
 
 The withdrawal of these notes was expedited by the 
 issue of certificates of State Loan, in exchange for them 
 and th"e old Continental Loan Office certificates, which 
 was the beginning of the present fiscal history of the 
 State. Of this issue the report of the State Treasurer, 
 in 1805, states that the whole amount has been redeemed 
 except the sum of 2,792 8s. Id. 
 
 By the act of December the 4th, 1789, the "resolve 
 money" and the issue of 1777, were no longer to be
 
 received at the Treasury after the first of January, 1791, 
 thus entirely destroying their vitality. 
 
 From time to time, in 1792,1793 and 1794, acts were 
 passed to facilitate the redemption of the issues of 1785, 
 of 1781, and " The Dollar Money;" and the final dispo- 
 tion of the subject was made by an act passed on the 
 fourth of April, 1805, which recited that "as now suffi- 
 cient time had been allowed for the redemption of the 
 Bills of Credit of this Commonwealth, that all such bills 
 outstanding and not paid into the Treasury before the 
 second Tuesday in January, l&Qft, should be forever irre- 
 deemable" 
 
 This is believed to be the last legislation in Pennsyl- 
 vania upon this subject. 
 
 Some persons, holders of the notes, cherishing the 
 fond hope that the State would ultimately redeem her 
 obligations at the value expressed on their face, neglected 
 or refused to present them at the Treasury, before the 
 expiration of the time limited for their redemption at 
 the depreciated rates fixed by law ; it is principally to 
 this circumstance, that the present generation is indebted 
 for the many specimens of the financiering schemes of 
 former days.
 
 CATALOGUE 
 
 OF THE 
 
 ISSUES OF PEXmiTASIA BILLS OF CREDIT, 
 
 COMPRISING THEIR 
 
 AMOUNTS, DENOMINATIONS, AND THE NAMES OF THE 
 PERSONS APPOINTED TO SIGN THEM, 
 
 FROM 1723 TO 1785.
 
 CATALOGUE. 
 
 1723. 
 March 23, XI 5, 000. 
 
 6,000 notes, each of 20s., 10s., 5*., 2s. 
 4,000 do 15s., 2s. & Qd. 
 
 8,000 do Is. 
 
 To be signed by any three of Charles Read, Benjamin Yining, 
 Francis Rawle, and Anthony Morris. 
 
 December 12, 30,000. 
 
 18,000 notes, each of 20s. 
 
 8,000 do 15s. 
 
 5,000 do 10s. 
 
 6,000 do 5s., 2s. & Qd., 2s. 
 
 4,000 do Is. & Qd. 
 
 7,000 do Is. 
 
 To be signed by any three of Francis Rawle, Charles Read, 
 Anthony Morris, and Samuel Hudson. 
 
 1726. 
 March 5, 10,000. 
 
 5,000 notes, each of 10s. 
 
 20,000 
 
 do 
 
 5s. 
 
 8,000 
 
 do 
 
 2s. Qd. 
 
 3,000 
 
 do 
 
 2s. 
 
 10,000 
 
 do 
 
 Is. Qd. 
 
 9,000 
 
 do 
 
 Is. 
 
 To be signed by Evan Owen, John Wright, Thomas Tresse.
 
 30 
 
 1729. 
 May 10, (date of note, September 15,) 30,000. 
 
 15,000 notes, each of 20s. 
 
 2,000 do 15s. 
 
 12,000 do 10s., 2s. 
 
 16,000 do 5s. 
 
 4,000 do 2s. 6d. 
 
 17,000 do Is. Qd. 
 
 10,500 do Is. 
 
 To be signed by any three of Thomas Tresse, Edward Homer, 
 John Parry, and Abraham Chapman. 
 
 1731. 
 
 February 6, to re-emit and continue the original .45,000, arid 
 to strike 40,000 thereof in new bills. 
 
 4,000 notes, each of Is., Is. 6d. 
 
 5,000 do 2s. 
 
 8,000 do 2s. 6d., 15*. 
 
 12,000 do 5s. 
 
 10,000 do 10s. 
 
 24,000 do 20s. 
 
 To be signed by any three of Job Goodson, John Parry, 
 Joseph Kirkbride, and Thomas Griffiths. 
 
 1739. 
 May 1st, (date of note, August 10,) 80,000. 
 
 10,000 notes, each of Is., Is. 6d., 2s., 2s. 6d. 
 30,000 do 5s. 
 
 40,000 do 10s. 
 
 20,000 do 15*. 
 
 34,000 do 20s. 
 
 To be signed by any three of Thomas Leech, William Mon- 
 nington, Abraham Chapman, Joseph Harvey, and Samuel 
 Smith.
 
 31 
 
 1744. 
 May 26, 10,000. 
 
 20,000 notes, each of Is., Is. 6d., 2s., 2s. Qd. 
 12,000 do 5s. 
 
 To be signed by James Morris, Abraham Chapman, and 
 Peter Lloyd. 
 
 1746. 
 June 24, 5,000. 
 
 30,000 notes, each of 4d., Qd., 9<i. 
 2,625 do 20s. 
 
 All below 20s. to be signed by two, and the 20s. to be signed 
 by three of James Morris, John Hall, Joseph Harvey, and 
 James Mitchell. 
 
 1749. 
 February 4, 5,000. 
 
 60.000 notes, each of 3d., 4d. 
 
 60.001 do 6d. 
 46,066 do 9d. 
 
 To be signed by one of John Jervis, William Trotter, Joseph 
 Hamton, John Davis, and James Webb. 
 
 1755. 
 June 28, (date of note, October 1,) 10,000. 
 
 6,000 notes, each of 10s. 
 
 10,000 do 5s., 2s. Gd., 2s., Is. 6d., Is., 9<, Qd. 
 
 11,000 do 4d. 
 
 15,000 do 3d. 
 
 Bills of Is. and upwards to be signed by three, and below Is. 
 to be signed by one of Evan Morgan, Joseph Fox, James Pem- 
 berton, Hugh Roberts, John Reynell, Joseph Wharton, John 
 Smith, Isaac Greenleaf, Isaac Jones, Thomas Crosby, Daniel 
 Williams, Charles Jones, Samuel Hazard, Samuel Roads, Joseph 
 Morris, Samuel Sansom, Edward Pennington, Thomas Clifford, 
 William Grant, Thomas Say, Joseph Saunders, Joseph King,
 
 32 
 
 Owen Jones, Jonathan Evans, William Logan, and Samuel 
 Burge. 
 
 1756. 
 January 1, ,55,000. 
 
 15,000 notes, each of 20s. 
 
 20,000 do 15*., 10s., 5s., Is. 
 
 30,000 do 2s. Qd., 2s., Is. Qd. 
 
 To be signed by any three of Evan Morgan, John Baynton, 
 Thomas Crosby, Thomas Wharton, Joseph Marriott, Daniel 
 Roberdeau, Atwood Shute, Samuel Neave, Charles Steadman, 
 Jonathan Evans, Edmund Kearney, John Taylor, William Grant. 
 Amos Strettell, Samuel Morris, Jacob Duche, Thomas Gordon, 
 Charles Meredith, Redmond Conyngham, Daniel Benczet, Wil- 
 liam Fisher, George Okill, Abel James, Joseph King, William 
 Vanderspiegel, Joseph Redman, William Shippen, William Grif- 
 fitts, Enoch Flower, Henry Harrison, Charles Jones, Isaac 
 Pascall, Thomas Davis, and Jacob Lewis. 
 
 1756. 
 September 21, (date of note, Oct. 1,) 80,000. 
 
 12,000 notes, each of 5s., 10., 15s., 20s. 
 
 To be signed by any three of William Grant, Joseph Rich- 
 ardson, James Benezet, Samuel Wharton, Daniel Rundle, Joseph 
 Wharton Jr., Peter Chevalier, William Hopkins, Stephen 
 Wooley, Joshua Howell, Joseph Galloway, George Bryan, 
 Charles Thompson, Isaac Pascall, Charles Jones, John Sayre, 
 Francis Rawle, Thomas Wharton, Joseph Saunders, Peter Reeve, 
 Joseph Morris, Samuel Smith, John Rhea, Thomas Smith, Jacob 
 Cooper, William Fisher, Joseph Redman, and Luke Morris. 
 
 1757. 
 
 March 10, 45,000. 
 
 18,000 notes, each of 20*., 15*., 10s., 5s. 
 
 To be signed by any three of Henry Harrison, Peter Reeve, 
 Joseph Morris, William Morris Jr., Buckridge Sims, James
 
 Child, Stephen Carmick, Thomas Clifford, Thomas Bourne, 
 John Swift, John Rhea, John Ord, Edward Duffield, Matthew 
 Clarkson, Thomas Say, Thomas Carpenter, Thomas Moore, 
 James Wharton, John Hughes, John Lynn, Plunket Fleeson, 
 Samuel Howell, George Emlen, and Joseph Hillborn. 
 
 June 17, (date of note, July 1,) 55,000. 
 
 22,000 notes, each of 20s., 15s., 10s., 5s. 
 To be signed by three of Joseph Morris, Charles Thompson, 
 Henry Harrison, Charles Meredith, John Ord, Thomas Clifford, 
 Joseph Richardson, Thomas Wharton, Edward Pennington, 
 Charles Jones, Joseph Redman, Thomas Davis, Richard Wistar, 
 Thomas Gordon, Joseph Hillborn, William Morris Jr., Francis 
 Rawle, Samuel Burge, Evan Morgan, William Fisher, Thomas 
 Say, John Lynn, James Humphreys, Joseph Stretch, and 
 Plunket Fleeson. 
 
 1758. 
 April 22, (date of note, May 20,) ,100,000. 
 
 38,000 notes, each of 20s., 15s., 10s., 5s. 
 14,285 do 2s. 6ci, 2s. Is. 6<Z. 
 
 14,290 do Is. 
 
 To be signed by three of Peter Reeve, Henry Harrison, 
 James Wharton, William Fisher, William Hopkins, George 
 Bryan, Charles Jones, Joseph Wharton Jr., Joseph Saunders, 
 Joseph Morris, Samuel Morris, Charles Thomson, Joseph Stretch, 
 Joseph Marriott, Thomas Moore, Thomas Carpenter, Evan 
 Morgan, Luke Morris, Thomas Clifford, Peter Chevalier, Daniel 
 Williams, James Benezet, Daniel Rundle, Thomas Gordon, 
 Stephen Wooly, James Humphreys, Matthew Clarkson, John 
 Ord, James Child, Samuel Wharton, John Hughes, Thomas 
 Yorke, and Charles Humphreys. 
 
 1759. 
 April 17, (date of note, April 25,) 100,000. 
 
 10,000 notes, each of 5, 2 10s., 20s., 15s., 10s., 5s. 
 
 To be signed by any three of Peter Reeve, Henry Harrison, 
 3
 
 34 
 
 Joseph Saunders, Joseph Morris, Charles Thomson, Joseph 
 Stretch, Evan Morgan, Thomas Clifford, Daniel Williams, 
 Thomas Gordon, John Ord, Thomas Tilbury, Robert Bully, 
 Richard Pearne, Joseph Marriott, Peter Chevalier, James 
 Wharton, Charles Jones, Samuel Morris, Luke Morris, James 
 Child, and James Humphreys. 
 
 June 21, 36,650. 
 
 4,886 notes, each of 5, 50s. 
 Signed by Charles Thomson, Luke Morris, Samuel Rhoads. 
 
 In the Record Book of the Laws there are given no particu- 
 lars relative to this act. 
 
 This act was repealed in June, 1760, but the notes are believed 
 to have been issued before the repeal was known. 
 
 1760. 
 April 12, (date of note, May 1,) 100,000. 
 
 5, 50s., 20s., 15s., 10s., 5s., known to exist. 
 
 In the Record book of the Laws no particulars of this act 
 are given. 
 
 1764. 
 May 30, (date of note, June 18,) 55,000. 
 
 3d., 4<Z., Qd., 9<Z., Is., Is. 6d., 2s., 2s. Qd., 5s., 10s., 
 
 15s., 20s., known to exist. 
 
 In the Record book of the Laws the particulars of this act 
 are not given. 
 
 1767. 
 May 20, (date of note, June 15,) 20,000. 
 
 2,000 notes, each of 6. 
 1,000 do 4. 
 
 2,000 do 40s. 
 
 To be signed by Joseph Fox, Isaac Pearson, and Joseph Gal- 
 loway.
 
 35 
 
 1769. 
 February 18, (date of note, March 1,) 16,000. 
 
 3,000 notes, each of 3. 
 4,000 do 30s. 
 
 1,000 do 12s. 
 
 1,000 do 8s. 
 
 To be signed by Joseph Fox, Isaac Pearson, and Joseph Gal- 
 loway. 
 
 1769. 
 
 February 18, (date of note, March 10,) 14,000. " Relief of 
 the Poor." 
 
 10,000 notes, each of 20s., 15s. 
 2,000 do 10s. 
 
 5,000 do 5s. 
 
 12,000 do 2s. Gd. 
 
 20,000 do 2s. 
 
 30,000 do Is. Gd., Is., 9d., Gd., Id., 3d. 
 
 Bills under Is. to be signed by one of and overs, by three of 
 Joseph Fox, Samuel Rhoads, Luke Morris, Jacob Lewis, Thomas 
 Say, Samuel Burge, Abel James, Stephen Collins, James 
 Penrose, John Parrock, Joseph Wharton Jr., and Charles 
 Thompson. 
 
 1771. 
 March 9, (date of note, March 20,) 15,000. 
 
 6,000 notes, each of 20s., 15s., 10s., 5s. 
 To be signed by any three of Joseph Morris, William Fisher, 
 Joshua Howell, Luke Morris, Daniel Roberdeau, Isaac Cox, 
 Jacob Shoemaker Jr., Francis Hopkinson, Stephen Collins, 
 Joel Evans, Robert Strettell Jones, and Thomas Mifflin. 
 
 1772. 
 
 March 21, (date of note, April 3,) 25,000. 
 5,000 notes of 40s. each. 
 
 33.962 do 2s. Gd., 2s., Is. Gd., Is. 
 
 9d., 6d., 3d., each. 
 
 33.963 do 4d.
 
 36 
 
 Bills under Is. to be signed by one ; of Is. and over to be 
 signed by three of John Morton, Charles Humphreys, John 
 Sellers, Isaac Cox, Joseph Sims, Thomas Clifford, Thomas 
 Coombe, Thomas Fisher, Samuel Pleasants, Joseph Dean, 
 Joseph Swift, Cadwallader Morris, Clement Biddle, Joel Evans, 
 Anthony Morris Jr., Samuel Howell Jr., Adam Hubley,John 
 Mifflin, Joseph Pemberton, Samuel Hudson, James Wharton, 
 Jeremiah Warder Jr., Benjamin Wynkoop, and Samuel Coates. 
 
 1773. 
 
 February 26, (date of note, March 20,) 12,000, "Light- 
 house" &c. 
 
 6,000 bills, each of 4s., 6s., 14s., 16s. 
 
 To be signed by three of Jacob Winey, Charles Jervis, Ben- 
 jamin Shoemaker, Henry Keppele Jr., Frederick Kuhl, and 
 John Steinmetz. 
 
 February 26, (date of note, October 1,) 150,000. 
 28,300 notes, each of 50s., 20s., 15s., 10s. 
 
 28.318 do 5s., 2s. 6df., Is. & Qd. 
 
 28.319 do 2s. 
 
 To be signed by any three of Stephen Carmick, Charles 
 Meredith, George Emlen Jr., Alexander Todd, Joseph Pemberton, 
 Samuel Miles, Owen Jones Jr., Joseph Mifflin, Benjamin Mor- 
 gan, Barnaby Barnes, William Fisher Jr., William Wistar, 
 Abraham Usher, Reynold Keen, John Field, Jacob Harman, 
 Mordecai Lewis, Isaac Wharton, William Wishart, Richard 
 Willing, Benjamin Marshall, Samuel Fisher, James Hartley, and 
 Joseph Allen; 
 
 Supplement December 13, 1774, appoints the following addi- 
 tional signers : James Stephens, Thomas Leech, Benedict 
 Dorsey, William Crispin, John Lownes, and Robert Tuckniss. 
 
 1775. 
 
 March 18, (date of note, March 25,) 6.000, "Light-house," &c. 
 3,000 notes, each of 4s., 6s., 14s., 16s.
 
 37 
 
 To be signed by three of James Wharton, Richard Vaux, 
 Ezekiel Edwards, William Wishart, Charles Wharton, and 
 Samuel Coates. 
 
 March 18, (date of note, April 10,) 25,000, "Prison." 
 
 3,833 notes, each of 5. 
 3,334 do 50*. 
 
 To be signed by Lindsay Coates, Job Bacon, and Edward 
 Roberts. 
 
 Resolution, June 30, (date of note, July 20,) 35,000. 
 7,000 notes, each of 10s., 20*., 30s., 40s. 
 
 To be signed by three of Sharp Delany, Lambert Cadwalla- 
 der, Isaac Howell, James Mease, John Benezet, Samuel Cad- 
 wallader Morris, Adam Hubley, Thomas Prior, Godfrey Twells, 
 John Mease, John Purviance, and William Allen Jr. 
 
 September, 30, (date of note, October 25,) 22,000. 
 
 6,000 notes, each of 20s., 15s., 10s., 5s. 
 
 15.849 do 2s. Gd., 2s., Is. 6d., Is., 9<i, 4d., 3cf. 
 
 15.850 do Qd. 
 
 Bills under Is. to be signed by one ; of Is. and over by three 
 of Francis Johnston, Thomas Shoemaker, Charles Jervis, 
 Thomas Tilbury, Philip Kinsey, John Knowles, Isaac Howell, 
 Abel Evans, and Richard Humphreys. 
 
 Resolution, November 18, (date of note, December 8,) 80,000. 
 16,000 notes, each of 10s., 20s., 30s., 40*. 
 
 To be signed by three of Matthew Clarkson, William Cris- 
 pin, William Smith, Thomas Leech, Joseph Redman, William 
 Kenly, Josiah Hewes, Andrew Tybout, George Douglass, Charles 
 Moore, Abel Evans, Thomas Moore, Peter Thomson, Samuel 
 Cadwallader Morris, Cornelius Barnes, Sketchly Morton, Elisha 
 Price, and Nicholas Fairlamb.
 
 38 
 
 1776. 
 Resolution, April 6, (date of note, April 25,) 85,000. 
 
 54.545 notes, each of 3d., Qd. 
 
 54.546 do 4d., Qd. 
 28,572 do Is., 2s. 
 28,571 do Is. Qd., 2s. Qd. 
 14,000 do 10s., 20s., 80s., 40s. 
 
 Bills of od., 4:d., Qd., Qd., to be signed by one, of Is., Is. Qd., 
 2s., 2s. Qd., by two, the others by three of William Smith, Ben- 
 jamin Betterton, Joseph Redman, William Clifton, Sketchly 
 Morton, Josiah Hewes, William Crispin, Andrew Tybout, George 
 Douglass, William Kenly, Charles Moore, Thomas Moore, Abel 
 Evans, Peter Thomson, Elisha Price, Hugh Lloyd, and Samuel 
 C. Morris. 
 
 1777. 
 March 20, (date of note, April 10,) 200,000. 
 
 150,000 notes, each of 3d, 4d, Qd., Qd. 
 30,000 do Is., Is. Qd., 2s., 3s., 4s., 6s., 8s., 
 
 12s., 16s., 20s. 
 12,670 do 40s. 
 
 12,665 do 80s. 
 
 Every bill under 4s. to be signed by one, above 4s. by two, of 
 Benjamin Betterton, John Young Jr., William Thome, Andrew 
 Hodge, William Kinley, Isaac Howell, Caleb Davis, Joseph 
 Gardner, James Cannon, Whitehead Humphreys, Benjamin 
 Jacobs, William Evans, Levi Budd, Isaac Snowden, John Brown, 
 William Will, Philip Alberti, Henry Luithausen, Samuel Smith, 
 Frederick Antis, Robert Loller, James Davidson, Joseph Par- 
 ker, and Michael Shubart. 
 
 1780. 
 
 March 25, (dated April,) 100,000. To purchase provisions 
 for the army. 
 
 8,696 notes, each of 60s., 50s., 30s., 20s., 15s., 10s., 5s. 
 
 8,694 do 40s.
 
 39 
 
 To be signed by two of Daniel Wistar, Levi Budd, Philip 
 Boehm, Robert Gather, Jedediah Snowden, William Laurence 
 Blair, Charles Lewis Treichel, John Miller, Joseph Watkins, 
 John Knox, Nathan Jones, and William Thome. 
 
 June 1, (according to Resolution of Congress, March 18,) 
 $1,250,000. $1, |2, $3, H $5, $7, $8, $20. 
 
 To be signed by two of Michael Shubart, Daniel Wistar, Levi 
 Budd, Philip Boehm, Robert Gather, Jedediah Snowden, Wil- 
 liam Laurence Blair, John Miller, John Knox, and Nathan 
 Jones. 
 
 Congress appointed to sign for the TJ. S., any one of Thomas 
 Smith and Richard Bache. 
 
 1781. 
 
 April 7, (date of note, April 20,) 500,000. 
 
 29,077 notes, each of 5, 3, 2 10s., 2, 1 10.?., 1. 
 29,076 do 15s., 10s. 
 
 40,000 do 5s., 2s. 6d., 2s. 
 
 20,000 do Is. Qd. t Is. 
 
 80,000 do 9d., 6c?., 3df. 
 
 Below 10s. to be signed by one, of 10s. or over, by two of 
 Cadwallader Morris, Samuel Meredith, James Budden, Joseph 
 Wharton, Joseph Bullock, Samuel Caldwell, Michael Shubart, 
 David H. Cunningham, Jacob Barge, Philip Boehm, John Pur- 
 viance, Joseph Dean, John Miller, Jonathan Mifflin, Isaac 
 Howell, Richard Bache, John Baynton, Tench Francis, David 
 Shaffer Sr., Thomas Prior, Robert Knox, John Mease, Jacob 
 S. Howell, and John Patton. 
 
 By an Act passed January 31, 1783, the following amounts 
 were directed not to be completed : 
 
 20,000 notes, each of 5s., 2s. 6df., 2s., Is. 
 40,000 do 9d., 6<Z., 2>d. 
 
 Amounting to 13,500.
 
 40 
 
 1783. 
 March 21, $300,000. 
 
 Treasury notes, of $J, $1, $2, $3, $6, $12, $15, 20. 
 
 1785. 
 March 16, (date of note, March 16,) 150,000. 
 
 54,546 notes, each of 3d!., 9cZ., Is. Qd., 2s. Qd., 5s., 15s. 
 54,545 do 10s., 20s. 
 
 Bills of 10s. and over to be signed by three, all the others by 
 two, except the Qd. and 3c?. by one, of John Chaloner, William 
 Turnbull, George Latimer, Reynold Keen, Andrew Tybout, 
 Edward Fox, James Collins, Peter Baynton, William Smith, 
 (druggist), Samuel Murdoch, James Bayard, Joseph Redman, 
 Robert Smith (merchant), John Rhea, William Gray (brewer), 
 William Tilton, Francis Wade, Thomas Irwin, Charles Risk, 
 Andrew Pettit, James McCrea, John Taylor, Samuel Caldwell, 
 Stacy Hepburn, and John Duffield. 
 
 A Supplement of September 10th appointed the following 
 additional signers : 
 
 Levi Budd, George Leib, John Baker, William Wertz, Francis 
 Mentges, Joseph Kerr, John Miller, James Glentworth, John 
 Steel, George Goodwin, Joseph Marsh, Henry Kammerer, 
 Michael Shubart, and Robert Bridges.
 
 262