page_title: Paper Money Riot
hierarchical_section_title: Paper Money Riot
caption_attribution_description: English: The front (or obverse or face) of a 1779 fifty-five dollar bill of Continental currency. On the other side of the bill is a nature print that was developed by Benjamin Franklin for use on Pennsylvania currency in the decades before the American Revolution. Since no two leaves are alike, it was hoped that the design would aid in detecting counterfeit bills. Franklin's specific method for making these was kept a secret and is unknown, but this form of nature printing was prevalent in the American colonies and the United States from the 1730s through 1779, when Delaware, Maryland, Pennsylvania, and New Jersey issued nature-printed currency. After Franklin retired from printing, his partner David Hall formed the firm of Hall &amp; Sellers, which (after Hall's death) used Franklin's technique on Continental bills like this one. For more info, see http://www.coins.nd.edu/ColCurrency/CurrencyText/CC-01-14-79b.html, http://www.coins.nd.edu/ColCurrency/FAQ/cc-notesinfo.html, and https://www.loc.gov/exhibits/franklin/franklin-printer.html. From a private collection, exhibited at Glyndor Gallery, Wave Hill, The Bronx, New York.
context_page_description: The Paper Money Riot, or Exeter Rebellion, was an armed uprising in Exeter, New Hampshire, on September 20, 1786. Following the American Revolution, the nation, states, and many individuals were deeply in debt. The lack of specie and paper currency in circulation made the payment of debts difficult for poor farmers. A group calling themselves Regulators called for the printing of paper money, believing that issuing paper notes on credit would help to stimulate the state's economy.
  Many towns held conventions to draft petitions to the legislature over the issue of paper currency. These petitions fell on deaf ears. The Regulators grew ever more frustrated by this, and occasionally their protests turned violent.
  Eventually the Regulators in Rockingham County armed themselves and marched on Exeter to demand the New Hampshire General Court immediately issue money. New Hampshire's President at the time, John Sullivan, was able to calm the situation, and convinced the mob to disperse for the night.
  Meanwhile, he sent word to the surrounding towns to raise their militia and assemble in Exeter.
context_section_description: The Paper Money Riot, or Exeter Rebellion, was an armed uprising in Exeter, New Hampshire, on September 20, 1786. Following the American Revolution, the nation, states, and many individuals were deeply in debt. The lack of specie and paper currency in circulation made the payment of debts difficult for poor farmers. A group calling themselves Regulators called for the printing of paper money, believing that issuing paper notes on credit would help to stimulate the state's economy.
  Many towns held conventions to draft petitions to the legislature over the issue of paper currency. These petitions fell on deaf ears. The Regulators grew ever more frustrated by this, and occasionally their protests turned violent.
  Eventually the Regulators in Rockingham County armed themselves and marched on Exeter to demand the New Hampshire General Court immediately issue money. New Hampshire's President at the time, John Sullivan, was able to calm the situation, and convinced the mob to disperse for the night.
  Meanwhile, he sent word to the surrounding towns to raise their militia and assemble in Exeter. The following morning, around 2,000 men had mustered, and they moved out to ambush the rebels' camp. The rebels were caught completely off guard, and they scattered into the woods. Most of the leaders were captured, but later pardoned.
  This event took place during the time of Shays' Rebellion. New Hampshire's government was able to put down the rebellion without further incident or a prolonged engagement. It is one of the events which led to the Constitutional Convention a year later.
caption: Example of the Continental Dollar, paper money issued by Congress as currency. This dollar was weak, and caused economic depression immediately after the Revolutionary War.
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