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Early American currency went through several stages of development during the colonial and post-Revolutionary history of the United States. John Hull was authorized by the Massachusetts legislature to make the earliest coinage of the colony (the willow, the oak, and the pine tree shilling ) in 1652.
A History of Money and Banking in the United States is a 2002 book by economist Murray Rothbard, released posthumously based on his archived manuscripts. [1] The author traces inflations, banking panics, and money meltdowns from the Colonial Period through the mid-20th century.
Ward, Harry M. "Review: Money and Politics in America, 1755–1775: A Study in the Currency Act of 1764 and the Political Economy of Revolution." The Journal of Southern History 40.3 (1974): 460–462. Further reading. Brock, Leslie V. The currency of the American colonies, 1700–1764: a study in colonial finance and imperial relations.
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Charles McLean Andrews (February 22, 1863 – September 9, 1943) was an American historian, an authority on American colonial history. [1] He wrote 102 major scholarly articles and books, as well as over 360 book reviews, newspaper articles, and short items. [2]
The pound was the currency of South Carolina until 1793. Initially, sterling coin circulated, supplemented from 1703 by local paper money. [1] Although these notes were denominated in £sd, they were worth less than sterling, with 1 South Carolina shilling = 8d sterling.
A £3 Colonial banknote from the Colony of Virginia. Signed by Peyton Randolph and John Blair Jr. A 1776 banknote issued by Virginia worth seven shillings and six pence. 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]
This was supplemented by local paper money from 1709. Although the local currency was denominated in £sd, it was worth less than sterling, with 1 Connecticut shilling = 9 pence sterling. This rated the Spanish dollar at 6 Connecticut shillings (compared to 4 shillings 6 pence sterling). The first issue of notes is known as the "Old Tenor" issue.