Early Paper Money of America / New Jersey / 1724 March 25

Early Paper Money of America (NNP Edition)|

£40,000 in Proclamation money (116,666 oz., 13 dwt., 8 gr. of plate) authorized by the Act of Nov. 30, 1723 for Loan Office purposes. Legal tender until Mar. 25, 1736 and invalid after June 25, 1736. Loaned on security of real estate or specie at 5% interest with 12-year amortization and known as the "First Bank." An equivalent circulating value in New Jersey money of account was also printed on the bills based upon the then current rate of silver at 8s per ounce. Because of many Irish-made counterfeits circulated through New York the issue in 1727 was ordered to cease circulation "between man and man" by Nov. 1, 1728 and to be invalid after Nov. 1, 1729. Large indented bills printed by William Bradford from cast cuts, wood blocks and set type. Signers were Peter Bard, Robert Lettis Hooper, John Parker, and James Trent. Substitute signers were Jacob Daughty and Enoch Vreeland.

1s (2 dwt., 22 gr.) [14,000]
1s6d (4 dwt., 9 gr.) [12,000] ▷CF◁
3s (8 dwt., 18 gr.) [8,000] ▷CF◁
6s (17 dwt., 12 gr.) [8,000] ▷CF◁
12s (1 oz., 15 dwt.) [8,000] ▷CF◁
15s (2 oz., 3 dwt., 18 gr.) [8,000]
30s (4 oz., 7 dwt., 12 gr.) [8,000]
£3 (8 oz., 15 dwt.) [4,000] ▷CF◁