. 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
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, 2017.