. Pierce's notes were the final settlement certificates issued to troops of the Continental
Army after Congress assumed their claims in 1783. They bear the signature of Paymaster
General John Pierce, and earned 6% interest. Soldiers frequently sold them at a discount
cash. See E. James Ferguson, The Power of the Purse
Hill, 1961, p. 179–180; William G. Anderson, The Price of
, Charlottesville, 1983, p. 96–97.
Cite web page as: Founding Families: Digital Editions of the Papers of the Winthrops and the Adamses, ed.C. James Taylor. Boston: Massachusetts Historical Society, 2014.