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Browsing: Papers of John Adams, Volume 9

This 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).
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.