The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-02-26
CURRENCY OF
The COLONIES

A gentleman of this city, one OF
whose ancestors served in the Revolu-
tionary War and whose known fore
bears run considerably further back,
has an interesting collection of Colo
: NAL paper money. His collection is not
; large, but it contains some rare speci-
mems, including several pieces of pro-
! vincial paper money issued long before
the Revolution.
| The American Colonies had no right
to issue paper money, but most of
them did it all the same. Massachu-
sets made such an issue as early as
1690-and other Colonies followed her
| example at intervals. The two Caro-
linas issued 100000 of paper money in
I 1902, which was to be redeemed in 8
years by a duty on liquors, skins and
furS. 1t was never redeemed. In 1928
Pennsylvania issued $4,000 of paper
money, which, being secured by real
estate, was ultimately redeemed.
During the Revolutionary War near
ly all the Colonies issued notes and
assisted Congress in flooding the coun-
try with worthless currency. Some of
them were queer looking things to pass
for money. A half dollar note, issued
by New York in ITS, provided that
this bill shall pass current in all pay
ments in this Colony for half Spanish
milled dollar or the value thereof in
gold or silver currency"
This promise was attested by pic
ture of two bowlegged individuals sup
porting a shield surmountec by
crown. This was issued the year be-
fore the Declaration of Independence.
A month before the Declaration Con-
necticut issued a five shilling note,
declaring that 1.-The possessor of this
bill shall be paid by the treasurer of
the Colony of Connecticut five shill-
ings, lawful money, by the first day
of January, A. D. one thousand seven
hundred and eighty-one.'
Vermont made an issue of one shill-
ing notes, New Jersey of one smiling
and six-pence, North Carolina of six
dollar notes. The latter had as a pledge
of good faith the picture in one corner
of a squirrel with tail curved over it's
back and gnawing a nut. The signif-
canoe of the emblem was never ex-
planned.
Maryland issued bills of three, four,
six and nine pence, and so on up to
three pounds, and to show that they
had been prepared with due care and
thought, and not hastily separated
with pair of scissors, the ends of the
notes We're scalIoped. AS a supposed
precaution against counterfeiting and
to show that the, note really meant
what it said, the dollar note had a
small picture of a Spanish dollar in |
serted in the text.
The best looking notes issued by any
of the colonies were those of Virginia |
THESE We're copper plate engravings of |
good size, filled out in ink. The first |
issue, in IT'S, bore the royal arms of |
Virginia, but the issue of 1776 had the |
motto Isle Semper Tyrannis" instead |
of the royal coat of arms
The Oldest specimen in the collection |
referred to is a twenty shilling note
issued by Pennsylvania colony dated |
August 10, 1923, and printed by Benja-
MIN Franklin. 1t is a good piece of |
printing and fairly good engraving At |
the top is a picture of the British lion
with the figures 20s. and underneath
twenty shi1lings'' in large letters
There is no promise to pay On one
side is the inscription: Printed by
B. Franklin" and on Tie other: ITO
counterfeit is DEATH" The space BE-
tween is occupied by a. curious look
ing plant, which might be a Canada
thistle or a rare orchid.
Other specimens in the collection are
a hve-shilling note, ten-shllling note. |
a fifteen shilling note, and twenty
shilling note issued after Braddock's
defeat to pay the expenses of the old
french war. These issues were made
by the province of PENNSYLVANIA and
inherent counties of the province
rms was the campaign in which Wash
lngton first distinguished himself. and
probably he was paid off in these
notes They were issued in June, 1859.
twenty years later Washington served
in the Revolutionary army without
pay
Another note in the collection, issued
by New Jersey in 1868, says: This
Dill by law shall pass current in New
Jersey for one ounce. fifteen penny
of plate
Another curious note represents an
issue by Maryland in 1912, 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 personal
history connected with it. is a two-dol-
lar note issued under a resolution of
Congress OF May 1e, 1775. This was the
nrst issue OF paper money authorized
by Congress after hostilities began, and
was made Immediately after the battle
or Bunker Hill. The entire issus was