Early Paper Money of America / Pennsylvania / 1766 December Philadelphia Merchants

Early Paper Money of America (NNP Edition)|£20,000 in Promissory Notes issued by a group of Philadelphia merchants in Dec. 1766 to alleviate a shortage of circulating public money, payable to bearer in Aug. 1767 with 5% interest. The thought of anyone having the uncontrolled right to issue “valueless” currency caused 200 tradesmen to present a remonstrance to the Assembly in Jan. 1767 for prohibition of such practices.

£5 [4,000]