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Stephen Crane was the first in the Crane family to become a papermaker, buying his first mill, "The Liberty Paper Mill," in 1770. [1] He sold currency-type paper to engraver Paul Revere, who printed paper money for the American Colonies. In 1801, Crane was founded by Zenas Crane, Henry Wiswall and John Willard.
As of 2012, Crane & Company continues to manufacture the paper for U.S. currency. [5] By 1840 Lee was the largest paper producer, and by Zenas Crane's death in 1845, Berkshire was the largest paper producing county in the United States. [6] The "Turkey" mill in Tyringham was built by Milton Ingersol in 1833 to produce paper from rags.
The Stamp Act 1765, also known as the Duties in American Colonies Act 1765 (5 Geo. 3.c. 12), was an act of the Parliament of Great Britain which imposed a direct tax on the British colonies in America and required that many printed materials in the colonies be produced on stamped paper from London which included an embossed revenue stamp.
The company moved its office and plant to 142 Broadway (at the corner of Liberty Street) in 1867, to another new facility at 78–86 Trinity Place in 1882, and again to 70 Broad Street in 1908. The first federally issued paper currency was circulated by the US Treasury Department following the outbreak of the American Civil War.
The first revenue stamps in the United States were used briefly during colonial times, among the most notable usage involved the Stamp Act.Long after independence, the first revenue stamps printed by the United States government were issued in the midst of the American Civil War, prompted by the urgent need to raise revenue to pay for the great costs it incurred.
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