This table sets the value of Massachusetts paper currency against the value of gold and silver for 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 40 Massachusetts dollars. By February 27, 1781, the value would be one Spanish milled dollar to 75 Massachusetts dollars, or about half the value the colony’s currency started with in April, 1780.
Commonwealth of Massachusetts. Act of General Court regarding value of bills of public credit article in The Independent Ledger & Amerian Advertiser newspaper. Independent Ledger & the American Advertiser, February 27, 1781. Pocumtuck Valley Memorial Association, American Centuries. https://americancenturies.org/collection/l07-046/. Accessed on November 2, 2024.
Please note: Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.