Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1905-12-22
CURRENCY OF THE COLONIES.
Cheap Paper Money That Was Issued
in Early Days of This Country.

A gentleman Of this city, one OF
whose ancestors served in the Rev
olutionary War and whose known
forebears run considerably further
back, has an interesting collection Of
Colonial paper money. His collection
is not large, but 1t contains some rare
specimens, including several pieces OF
provincial paper money issued long
before the Revolution.
The American colonies had no right
to issue ppaer money, but most OF
them did 1t all the same. Massachu-
setts made such an issue as early as
169O-and other colonies followed her
example at intervals. The two Caro-
linas issued $4,000 Of paper money
in 1902, which was to be redeemed
in three years by duty on liquor,
skins and furs. 1t was never redeem
ed. In 1928 Pennsylvania issued
SIS, 900 Of paper money, which, being
secured by real estate, was ultimately
redeemed.
- During the Revolutionary War
nearly all the colonies issued notes
and assisted congress in flooding the
country with worthless currency.
Some Of them were queer looking
things to pass for money: A half
dollar note, issued by New York in
1775, provided that this bill shall
pass current in all payments in this
colony for half Spanish milled dol
lar or the value thereof in gold or
silver currency"
This promise was attested by pic
ture Of two bowlegged individuals
supporting a shield surmounted by a
crown. This was issued a year be-
fore the Declaration Of Independence.
Connecticut issued a five-shilling note,
declaring that the "possessor Of this
bill shall be paid by the treasurer
Of the colony Of Connecticut FIVE shil-
lings, lawful money, by the first Of
January, A. D., one thousand seven
hunded and eighty-one."
Vermont made all issue Of one shil-
ling notes, New Jersey Of one shilling
and six pence, North Carolina OF
six-dollar notes. The latter had as
pledge of good faith the picture In
one corner Of a squirrel with tall
curled over it's back and gnawing
nut. The significance Of the emblem
was never explained.
Maryland issued bills Of three, four,
six and nine pence and so on up 10
three pounds, and to show that they
had been prepared with due care and
thought, and not hastily separated
with a pair of scissors, the ends of
the notes were scalloped. AS a sup
posed precaution against counterfeit
ing and to show that the note really
meant what 1t said, the dollar note
had a small picture Of a Spanish
dollar inserted In the text.
The best looking notes issued by
any Of the colonies were those or Vir-
ginia. These were copper plate en-
cravings of good size, filled out in ink.
The first issue, in 1775, bore the
royal arms of Virginia, but the issue
of 1875, had the motto "Sic Semper
Tyrannis' instead Of the royal coat
of arms.
The oldest specimen in the collec-
ton referred to Is a twenty-shilling
note, issued by Pennsylvania colony,
dated August 10, 1928, and printed by
Benjamin Franklin. 1t is a good
craving. At the top Of 1t Is pic
ture of the British lion, with the 2Os.
and underneath twenty shillings" In
large letters. There Is no promise to
pay. On one side Is the inscription:
Printed by B. Franklin" and on the
other: ITO counterfeit Is death"
The space between Is occupied by a
curious looking plant, which may be
a Canadian thistle or rare orchid.
Other specimens in the collection
are a five-shilling note, ten-shillirg
note, and a twenty-shilling note Is
sued after Braddock's defeat to pay
expenses Of the old French war.
These issues were made by the prov
ince of Pennsylvania and different
counties of the province. This was
the campaign in which washington
first distinguished himself, and prob
abIv he was paid off in these notes.
They were issued in June, 1853.
Twenty years later Washington serv-
ed in the Revolutionary army with
out pay.
Another note in the collection, is
sued by New Jersey in 1853, says:
This bill by law shall pass current
in New Jersey for one ounce, fifteen
pennyweights, Of plate"
Another curious note represents an
issue by Maryland in 1742, and is for
"two-thirds Of a dollar" 1t has the
royal arms Of England at one end
and the words "two-thirds" in bold
letters around the edge.
But the most interesting note In
the collection, on account Of the per-
sonal history connected with 1t, Is a
two-dollar note issued under a reso-
luton Of congress Of May 10, ITS.
This was the first issue OF paper mon
ey authorized by congress after hos
tilities began, and was made imme-
diately after the battle Of Bunker
Hill. The entire issue was $4,000