Early Paper Money of America / Continental Currency / 1783 Robert Morris

Early Paper Money of America (NNP Edition)|

Indented circulating notes or drafts personally signed by Robert Morris and issued by him from the United States Office of Finance and on account of the United States primarily for three months pay to members of the Continental Army furloughed at the end of the American Revolution. Differing somewhat from his 1781-82 issue of circulating notes he was in this 1783 issue adding his personal credit to that of the United States to assure acceptance because the ability of the United States to meet its obligations was doubted. The notes were drawn on John Swanwick, Cashier of the Office of Finance of the United States, and were payable to bearer six months after date. The issue had six convenient denominations, three notes being printed on each sheet, and was on paper watermarked U.S. NATIONAL DEBT and with a different one letter watermark on each denomination to deter and detect alteration. Hall and Sellers of Philadelphia printed the notes from set type and ornaments with payee, drawee, note number, day, and month to be inserted in ink. There was over $500,000 emitted.

When Morris was asked to remain for a further period as Superintendent he did so relying on the firm financial support of the Continental Congress to redeem or discharge these outstanding 1783 notes and other of his personal obligations undertaken on public account. These six months notes were colloquially known as Long Bobs to distinguish them from his sixty-day notes known as Short Bobs, both of which maturities were simultaneously outstanding in part of 1783. The name "Bobs" seems to have referred to the issuer's first name of Robert.

$5 Watermarks A & H  ▷RM◁
$10 Watermarks B & J  ▷RM◁
$15 Watermarks C & L  ▷RM◁
$20 Watermarks D & N  ▷RM◁
$50 Watermarks E & P  ▷RM◁
$100 Watermarks G & R  ▷RM◁