A website from the Massachusetts Historical Society; founded 1791.
close

Browsing: Papers of John Adams, Volume 9


This foot note contained in document ADMS-06-09-02-0213
9. Adopted on 5 May, the first and tenth sections of the act provided for a special tax of £5.6 million to remove paper currency from circulation and an annual tax of £72,000, to be collected for seven years and payable in specie or specified goods, for the redemption of new interest-bearing bills of credit whose aggregate face value would not exceed £460,000 (Mass., Province Laws , 5:1178–1183; see also Adams Family Correspondence , 3:326, 328).