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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.  

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.

  William Cushing,
Given under our hands Nath'l Peaslee Sargeant,
the 27th of Feb. 1781. David Sewell,
  James Sullivan.
A true copy,  
Attest. JOHN AVERY, Sec'ry.

(c) Pocumtuck Valley Memorial Association, Deerfield MA. All rights reserved.
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label levels:

There is currently no available "Beginner" label. The following is the default level label: 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
height   4.75"
width   3.0"
process/materials   printed paper, ink
item type   Periodicals/Newspaper
accession #   #L07.046


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See Also...

Continental Currency in various amounts

Capt. Moses Scott military settlement

"Remarks and Observations" by Justin Hitchcock


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