1775-1781
Guide to the Collection
Supported by the Massachusetts Society of the Cincinnati.
Abstract
This collection consists of paper currency issued by the individual states during the Revolutionary War.
Historical Sketch
After the Battle of Lexington and Concord in 1775, Massachusetts was the first colony to officially issue bills of credit to finance her militia and support the war effort. The other colonies soon followed her example. Although each colony/state called their emissions by different names, they all worked in a similar fashion.
Whether a bill, an indented bill, a bill of credit, or a certificate, these notes were issued by the colony/state governments to circulate as money to be redeemed at a later date with funds from future taxes, imposts, and other levies. The initial bills were due within 2 to 4 years and carried no interest. Later emissions were due after longer periods and carried up to 6% interest each year. The state would then pay out the yearly interest without having to redeem the principal.
The colonies/states continued to emit their paper money in direct competition with Continental currency. Since the little revenue the states collected went to redeem their own issues and not to pay their share of the sinking fund for Continental currency, Congress finally requested that states halt all currency emissions in 1777. By that time the excess of unsupported paper currency had led to depreciation and Americans were hard-pressed to pay for the basic necessities, let alone taxes.
In an unsuccessful effort to regulate the currency, Congress passed an act on May 5, 1780, creating a new emission for each state, with a guarantee that if the state defaulted on payment of interest and/or principal, the Congress would honor the payment. These bills were to act as legal tender, but all public confidence in the Continental currency had eroded, and the bills were not widely accepted as a result.
Collection Description
This collection of paper currency consists of certificates, bills, indented bills, and bills of credit of the thirteen original colonies and Vermont during the Revolutionary War, 1775-1781.
Detailed Description of the Collection
I. Connecticut
A. 1775 January 2 issue
Printed by Timothy Green of New London.
B. 1775 May 10 issue
Printed by Timothy Green of New London.
C. 1775 June 1 issue
Printed by Timothy Green of New London.
D. 1775 July 1 issue
Printed by Timothy Green.
E. 1776 June 7 issue
Printed by Timothy Green of New London.
F. 1776 June 19 issue
G. 1777 October 11 issue
Signed by C. Phelps. Endorsed by J. Porter.
H. 1780 March 1 issue
Printed by Timothy Green of New London.
I. 1780 June 1 issue
Printed by Timothy Green of New London.
J. 1780 July 1 issue
Printed by Timothy Green of New London.
II. Delaware
A. 1776 January 1 issue
Printed and egraved by James Adams.
B. 1777 May 1 issue
Printed and engraved by James Adams.
III. Georgia
A. 1776 issue sterling denomination
B. 1776 issue light blue seal
C. 1776 issue maroon seal
D. 1776 issue orange/green seal
E. 1776 issue blue green
F. 1776 issue fraction
G. 1776 issue undated black vignettes
H. 1777 issue no resolution date
I. 1777 June 8 issue
J. 1777 September 10 issue
K. 1778 May 4 issue (bill of credit)
Engraved by W. Lancaster.
IV. Maryland
A. 1775 December 7 issue
B. 1776 August 14 issue
C. 1780 June 28 issue (legal tender bill)
V. Massachusetts
A. 1775 May 25 issue
B. 1775 July 8 issue (modified)
C. 1775 August 18 issue
Image on obverse of a man with sword in right hand and scroll with "Magna Carta" in left hand.
D. 1775 December 7 issue (from modified 18 August plate)
E. 1776 June 18 issue
F. 1776 September 17 issue
G. 1776 October 18 issue
Pine tree on obverse.
H. 1776 November 17 issue
Image on obverse of a man with sword in right hand and scroll with "Independence" in left hand.
I. 1778 October 16 issue
Pine tree on obverse.
J. 1779 issue
Image on obverse of a pine tree.
K. 1780 May 5 issue
Printed by Hall and Sellers of Philadelphia. Engraved by Henry Dawkins.
VI. New Hampshire
A. 1775 November 3 issue
B. 1775 August 24 issue
C. 1775 November 3 issue
Printers Daniel Fowle and nephew Robert Fowle servered their partnership in 1774 over political differences. Tory Robert accused Daniel of making counterfeits of this issue, which caused the House of Representatives to call it in and sink it.
D. 1776 June 28 issue
Printers Daniel Fowle and nephew Robert Fowle servered their partnership in 1774 over political differences. Tory Robert accused Daniel of making counterfeits of this issue, which caused the House of Representatives to call it in and sink it.
E. 1780 April 29 issue
This issue was engraved by Henry Dawkins, printed by Hall and Sellers of Philadelphia, and endorsed by Jonathan Taylor Gilman.
VII. New Jersey
A. 1776 February 20 issue
Printed by Isaac Collins.
B. 1776 March 25 issue
Printed by Isaac Collins.
C. 1781 January 9 issue
Printed by Isaac Collins.
VIII. New York
A. 1775 August 2 issue
Printed by Hugh Gaine. engraved by Elisha Gallaudet.
serial # 1247 missing.
B. 1775 September 2 issue
Printed by John Holt.
C. 1776 February 17 issue
D. 1776 March 5 issue
E. 1776 August 13 issue
Printed by Samuel Loudon.
IX. North Carolina
A. 1776 April 2 issue
Engraved by Gabriel Lewyn.
B. 1778 August 8 issue
Patriotic mottos "A lesson to arbitrary kings..." and "persecution the ruin of empires". Printed by James Davis.
C. 1779 May 15 issue
Patriotic mottos include "American Unino for Ever" and "American Fortitude displayed". Printed by Hugh Walker.
D. 1780 May 10 issue
Patriotic motto, "Terra libera". Printed by James Davis.
X. Pennsylvania
A. 1775 July 20 issue
Printed by Hall and Sellers.
B. 1775 October 25 issue
Engraved by James Smither and printed by Hall and Sellers.
C. 1775 December 8 issue
Engraved by James Smither and printed by Hall and Sellers.
D. 1776 April 25 issue
Engraved by James Smither and printed by Hall and Sellers.
E. 1777 April 10 issue
Printed by John Dunlap.
XI. Rhode Island
A. 1775 November 6 issue
B. 1776 January 15 issue
Printed by John Carter.
C. 1776 March 18 issue
D. 1776 September 5 issue
E. 1777 May 22 issue
XII. South Carolina
A. 1775 June 1 issue
Engraved by James Oliphant.
B. 1775 November 15 issue
Engraved and printed by James Oliphant.
C. 1776 March 1 issue
Printed by Peter Timothy.
D. 1776 October 19 issue
E. 1776 December 23 issue
Printed by Peter Timothy. A typesetter's error dated the notes as 1777.
F. 1777 February 14 issue
G. 1778 April 10 issue
H. 1779 February 8 issue
Engraved by Thomas Coram.
XIII. Vermont
A. 1781 February issue
Printed by Spooner and Green.
XIV. Virginia
A. 1775 issues
B. 1776 May 6 issue
C. 1776 October 7 issue
D. 1777 May 5 issue
E. 1777 October 20 issue
F. 1778 May 4 issue
G. 1778 October 5 issue
H. 1780 May 1 issue
Engraved by Henry Dawkins. Printed by Hall and Sellers of Philadelphia.
I. 1780 July 14 issue
J. 1780 October 16 issue
K. 1781 March 1 issue
L. 1781 May 7 issue
Printed by John Dunlap.
Preferred Citation
Paper currency of the Revolution, Massachusetts Historical Society.
Access Terms
This collection is indexed under the following headings in ABIGAIL, the online catalog of the Massachusetts Historical Society. Researchers desiring materials about related persons, organizations, or subjects should search the catalog using these headings.