Early Paper Money of America / New Jersey / 1709 July 1

Early Paper Money of America (NNP Edition)|

£3,000 in legal tender Bills of Credit were approved by the June 30, 1709 Act for a proposed Canadian Expedition. By mistake a design on the stub for indentation was omitted and also English Arms (3 lions) were used instead of British Arms (shield). Originally valid until Sept. 1, 1711, but extended by the Mar. 13, 1713/14 Act. Authorized signers were Thomas Farmer, Elisha Parker, Thomas Pike, and John Royce, three of whom were to sign each bill, but Adam Hude signed without written authority in lieu of John Royce who died. These violations caused lack of confidence in the issue so that by the Act of Feb. 10, 1710/11 the bills were revalidated. By the Act of July 16, 1711 the erroneous form was specifically approved.