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The currency of the American colonies, 1700–1764: a study in colonial finance and imperial relations. Dissertations in American economic history. New York: Arno Press, 1975. ISBN 0-405-07257-0. Ernst, Joseph Albert. Money and politics in America, 1755–1775: a study in the Currency act of 1764 and the political economy of revolution. Chapel ...
The pound was the currency of Pennsylvania until 1793. It was created as a response to the global economic downturn caused by the collapse of the South Sea Company . [ 1 ] Initially, sterling and certain foreign coins circulated, supplemented from 1723 by local paper money, colonial scrip .
10s Colonial currency from the Colony of New York. First issue (May 31, 1709) from New York. The pound was the currency of the province and state of New York until 1793. Initially, sterling coin circulated along with foreign currencies. This was supplemented by local paper money from 1709.
The pound was the currency of Virginia until 1793. Initially, sterling coin circulated along with foreign currencies, supplemented from 1755 by local paper money. [ 1 ] Although these notes were denominated in £sd , they were worth less than sterling, so 1 Virginia shilling was equal to 9d sterling.
The currency of colonial New Jersey consisted of bills of credit which circulated as legal tender. Each issue was inscribed with the weight of silver it was current for. The initial 1709 issue passed at the rate of 2½ ounces of silver per New Jersey pound, but issues after 1724 had inscriptions with specified the Proclamation Money rate.
The American Revolutionary War inflicted great financial costs on all of the combatants, including the United States, France, Spain and the Kingdom of Great Britain.France and Great Britain spent 1.3 billion livres and 250 million pounds, respectively.
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The Massachusetts pound used the £sd currency system of 1 pound divided into 20 shillings, each of 12 pence. Initially, sterling coin and foreign currencies circulated in Massachusetts, supplemented by pine tree shillings produced by John Hull between 1652 and 1682 and by local paper money as of 1690.