A website from the Massachusetts Historical Society; founded 1791.

Back to The Second Continental Congress

"Philadelphia. In Congress, Thursday, June 22, 1775."

Section Viewing Options NOTE

overview | large | transcription HELP

Request Reproduction


Thursday, June 22, 1775.

RESOLVED, That a sum not exceeding two
millions of Spanish milled dollars be emit-
ted by the Congress in bills of credit for the de-
fence of America.

That the twelve confederated colonies be pledg-
ed for the redemption of the bills of credit now
directed to be emitted for the defence of America.

June 23.

Resolved. That the number and de-
nomination of the bills to be emitted be as fol-
lows, viz.

49,000 bills of 8 dol. each, 392,000
49,000 do. 7 do. 343,000
49,000 do. 6 do. 294,000
49,000 do. 5 do. 245,000
49,000 do. 4 do. 196,000
49,000 do. 3 do. 147,000
49,000 do. 2 do. 98,000
49,000 do. 1 do. 49,000
11,800 do. 20 do. 236,000
403, 800 [total ] 2,000,000 [total]

That the form of the bill be as follows,

THIS bill entitles the bearer to receive
Spanish milled dollars, or the value thereof in gold
or silver, according to the resolutions of the Congress,
held at Philadelphia, on the 10th of May, A.D.

Resolved, That Mr. Adams, Mr. Rutledge, Mr.
Duane, Doctor Franklin, and Mr. Wilson, be a
committee to get proper plates engraved, to pro-
vide paper, and to agree with printers to print the
above bills.

July 21.

Resolved, That Mr. Richard Bache,
Mr. Stephen Paschal, and Mr. Michael Hillegas, be
appointed to superintend the press, and to have
the oversight and care of printing the bills of cre-
dit ordered to be struck by this Congress.

July 25.

Resolved, That a further sum amount-
ing to the value of one million of Spanish milled
dollars in bills of thirty dollars each, be emitted.

As the signing so great a number of bills as has
been directed to be issued by this Congress, will
require more time than the members can possibly
devote to that business, consistent with the atten-
tion to the public service:

Resolved, That the following gentlemen be ap-
pointed and fully authorized to sign the same, viz.
Luke Morris, Samuel Meredith, Judah Foulke,
Samuel Morris, Frederick Kuhl, Robert Shettle
Jones, Thomas Coombe, Ellis Lewis, John Mease,
Thomas Lawrence, Daniel Clymer, Thomas
Barclay, John Maxwell Nesbit, John Bayard,
William Craig, Thomas Barlow, John Shee,
Isaac Hazelhust, Robert Roberts, Anthony Morris,
Mordecai Lewis, George Mifflin, Robert Tuck-
niss, Andrew Bunner, William Jackson, Joseph
Sims, James Milligan, and James Read.

That each of the continental bills be numbered
and signed by two of the above gentlemen.

That each gentleman, who signs the continen-
tal bills, be allowed and paid out of the continen-
tal treasury, one dollar and one third of a dollar
for each and every thousand bills signed and num-
bered by him.

That the gentlemen appointed to number and
sign the bills do give their receipt for the same,
expressing the number and denominations of them,
and after numbering and signing them shall de-
liver the same to the continental treasurers, taking
their receipt for the bills so delivered.

July 29.

Resolved, That Michael Hillegas and
George Clymer, Esqrs. be, and they are hereby
appointed joint treasurers of the united colonies:
That the treasurers reside in Philadelphia; and
that they shall give bond with surety for the faith-
ful performance of their office in the sum of one
hundred thousand dollars to John Hancock, Henry
Middleton, John Dickinson, John Alsop, Thomas
Lynch, Richard Henry Lee, and James Wilson,
Esquires, and the survivor of them, in trust for the
united colonies.

That the provincial assemblies or conventions,
do each choose a treasurer for their respective co-
lonies, and take sufficient security for the faithful
performance of the trust.

That each colony provide ways and means to
sink its proportion of the bills ordered to be emit-
ted by this Congress, in such manner as may be
most effectual and best adapted to the condition,
circumstance, and usual mode of levying taxes in such colony.

That the proportion or quota of each colony
be determined according to the number of inha-
bitants of all ages, including negroes and molat-
toes in each colony. But as this cannot, at pre-
sent, be ascertained, that the quotas of the several
colonies be settled for the present as follows, to
undergo a revision and correction, when the list
of each colony is obtained.

New-Hampshire, 124069 and a half.
Massachusetts-Bay, 434244
Rhode-Island, 71959 and a half.
Connecticut, 248139
New-York, 248139
New-Jersey 161290 and a half
Pennsylvania, 372208 and a half.
Delaware, 37219 and a half.
Maryland, 310175 and a half.
Virginia, 496278
North-Carolina, 248139
South-Carolina, 248139
3,000,000 [total]

That each colony pay its respective quota in
four equal annual payments; the first payment
to be made on or before the last day of November,
which will be in the year of our Lord 1779, the
second on or before the last day of November
1780, the third on or before the last day of No-
vember 1781, and the fourth and last on or be-
fore the last day of November 1782.

And that for this end the several provincial as-
semblies, or conventions, provide for laying and
levying taxes in their respective provinces or colo-
nies, towards sinking the continental bills: That
the said bills be received by the collectors in pay-
ment of such taxes, and be by the said collectors
paid into the hands of the provincial treasurers
with all such other monies as they may receive
in lieu of the continental bills, which other mo-
nies the said provincial treasurers shall endeavour
to get exchanged for continental bills; and where
that cannot be done, shall send to the continental
treasurers, the deficiency in silver or gold, with
the bills, making up the quota to be sunk in that
year, taking care to cut, by a circular punch, of
one inch diameter, an hole in each bill, and to
cross the same, thereby to render them unpassa-
ble, though the sum or value is to remain fairly
legible: And the continental treasurers, as fast
as they receive the said quotas, shall, with the
assistance of a committee of five persons, to be ap-
pointed by Congress, if sitting, or by the as-
sembly or convention of the province of Pennsyl-
vania, examine and count the continental bills,
and in the presence of the said committee, burn
and destroy them. And the silver and gold sent
them, to make up the deficiences, or quotas, they
shall retain in their hands until demanded in re-
demption of continental bills, that may be brought
to them for that purpose, which bills so redeem-
ed that shall also burn and destroy, in presence
of the said committee. And the treasurers when-
ever they have silver or gold in their hands, for
the redemption of continental bills, shall adver-
tise the same, signifying that they are ready to
give silver or gold for such bills, to all persons re-
quiring it in exchange.

The provincial treasurers and collectors are to
have such allowances for their respective services,
as shall be directed by the several assemblies or
conventions, to be paid by their respective pro-
vince or colony.

That the continental treasurers be allowed for
their services, this year, five hundred dollars each.

A copy from the minutes.