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. For the statutes, see note 186
below. Although damages could be had on an inland bill under these Acts in England,
re-exchange would not have been included, because there was no currency exchange factor
in the transaction. See John Bayley, A Short Treatise on the Law of Bills of Exchange
45–46 (London, 1789). The flat percentage used in Massachusetts was not tied to re-exchange,
however, so that on a broad reading it could have been awarded as damages even on
an inland bill. But compare note 9
below. Since there was a difference between the currencies involved, when the bill
was payable in another province, such a rule was not inequitable in this case, whether
the bill was called “inland” or “foreign.”
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.