Common-Wealth of Massachusetts.
WHEREAS by an Act of the General Court, passed in their present Session, the
Justices of the Supreme Court of this Commonwealth, or the major part of them,
are appointed and impowered to determine the value of the Bills of public Credit
current within the same, from the first day of April last; for which purpose
they are directed to meet once in every three months at the least, and as much
oftner as they shall judge necessary, and then to determine the value of the
said bills, as compared to the value of Silver and Gold, within the Commonwealth.
Accordingly, the said Justices having met at Boston upon this day, and being
duly sworn, as the same Act directs, have determined the value of said bills,
when compared with silver and gold, within the Commonwealth, to be as follows:
From April 1, 1780 to April 20, one Spanish milled dollar was equal to 40 of
the old emission.
April 25 |
42 to the 25th |
60 |
September 10, |
71 |
" 30, |
44 " " 30th |
62 |
October 15, |
72 |
May 5 |
46 to June 10th |
64 |
November 10, |
73 |
" 10, |
47 " " 15th |
68 |
" 30, |
74 |
" 15, |
49 " " 20th |
69 |
To Feb. 27, |
75 |
" 20, |
54 to Aug. 15h |
70 |
1781. |
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And ever since the money of the new emission hath been in circulation, one
dollar thereof hath been equal to forty dollars of the old emission.
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William Cushing, |
Given under our hands |
Nath'l Peaslee Sargeant, |
the 27th of Feb. 1781. |
David Sewell, |
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James Sullivan. |
A true copy, |
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Attest. |
JOHN AVERY, Sec'ry. |
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(c) Pocumtuck Valley Memorial Association, Deerfield MA. All rights reserved.
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This table sets the value of Massachusetts paper currency against the value of gold and silver for the year 1780. Throughout the colonies, paper currency was losing value against hard cash at an astonishing rate. The standard hard currency at the time was the Spanish milled dollar. From April 1st through the 20th, 1780, one Spanish milled dollar was worth forty Massachusetts dollars. By February 27, 1781, the value would be one Spanish milled dollar to seventy-five Massachusetts dollars, or about half the value Massachusetts currency started with in April, 1780. The de-valuation of money created many problems. Everyone lost buying power and money you received in April had little worth several months later.
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Act of General Court regarding value of bills of public credit article in The Independent Ledger & Amerian Advertiser newspaper
printer Draper and Folsom |
publisher Independent Ledger & the American Advertiser |
creator Commonwealth of Massachusetts |
date Mar 12, 1781 |
location Boston, Massachusetts |
width 3.0" |
height 4.75" |
process/materials printed paper, ink |
item type Periodicals/Newspaper |
accession # #L07.046 |
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