Rhode Island pound

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Early issue PS2 Colonial currency from the Colony of Rhode Island dated 15 Aug 1737 US-Colonial (RI-26b)-Rhode Island-15 Aug 1737-8.jpg
Early issue £2 Colonial currency from the Colony of Rhode Island dated 15 Aug 1737

The pound was the currency of Rhode Island until 1793. Initially, the British pound and foreign coins circulated, supplemented by local paper money from 1710. [1] These notes were denominated in pounds, shillings, and pence, but they were worth less than sterling, with 1 Rhode Island shilling = 9 pence sterling. The first issue of notes was known as the "Old Tenor" issue. This fell in value and "New Tenor" notes were introduced in 1740, worth four times the Old Tenor notes. Both Old and New Tenor notes were replaced in 1763 by "Lawful money" at a rate of 1 Lawful shilling = 6⅔ New Tenor shillings = 26⅔ old Tenor shills.

Contents

The state of Rhode Island issued Continental currency denominated in £sd and Spanish dollars, with 1 dollar = 6 shillings. The continental currency was replaced by the U.S. dollar at a rate of 1,000 continental dollars = 1 U.S. dollar.

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Early American currency

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Canadian pound

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Connecticut pound

The pound was the currency of Connecticut until 1793. Initially, the British pound circulated along with foreign currencies. This was supplemented by local paper money from 1709. Although the local currency was denominated in pounds, shillings and pence, it was worth less than sterling, with 1 Connecticut shilling = 9 pence sterling. This rated the Spanish dollar at 6 Connecticut shillings. The first issue of notes is known as the "Old Tenor" issue.

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The pound was the currency of Georgia until 1793. Initially, the British pound circulated. This was supplemented from 1735 with local paper money denominated in sterling, with 1 pound = 20 shillings = 240 pence.

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Massachusetts pound

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New Jersey pound

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New York pound

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North Carolina pound

The North Carolina pound, commonly known as the pound, was the currency of North Carolina until 1793. Initially, the British pound circulated, supplemented from 1709 by local paper money and the introduction of Colonial currency and the Pound denominations in 1712. Although these notes were denominated in pounds, shillings and pence, they were worth less than sterling, with 1 North Carolina shilling = 9 pence sterling. The first issue of paper money was known as "Old Tenor" money. In 1748, "New Tenor" paper money was introduced, worth 7½ times the Old Tenor notes.

Pennsylvania pound

The pound was the currency of Pennsylvania until 1793. It was created as a response to the global economic downturn caused by the collapse of the South Sea Company. Initially, the British pound and certain foreign coins circulated, supplemented from 1723 by local paper money, called Colonial Scrip. Although these notes were denominated in pounds, shillings and pence, they were worth less than sterling, with 1 Pennsylvanian shilling equalling 9 pence sterling.

South Carolina pound

The pound was the currency of South Carolina until 1793. Initially, the British pound circulated, supplemented from 1703 by local paper money. Although these notes were denominated in pounds, shillings and pence, they were worth less than sterling, with 1 South Carolina shilling = 8 pence sterling. The first issues were known as "Proclamation Money". They were replaced by the "Lawful Money" issue in 1748, with 1 Lawful shilling = 4⅔ Proclamation shillings.

Virginia pound

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References

Notes

  1. Newman, 2008, p. 371.

Bibliography