An old engraving of a 1775 American 24-shilling bill of credit. It is from a Victorian history book of Bills of credit are documents similar to banknotes issued by a government that represent a government's indebtedness to the holder. After the Battle of Lexington and Concord in 1775, Massachusetts was the first colony to officially issue bills of credit to finance her militia and support the war effort. The colonies (and states) continued to put out their paper money in direct competition with Continental currency.
An old engraving of a 1775 American 24-shilling bill of credit. It is from a Victorian history book of Bills of credit are documents similar to banknotes issued by a government that represent a government's indebtedness to the holder. After the Battle of Lexington and Concord in 1775, Massachusetts was the first colony to officially issue bills of credit to finance her militia and support the war effort. The colonies (and states) continued to put out their paper money in direct competition with Continental currency. Since very little of the revenue the states collected went to pay their share of the Continental currency, Congress finally called a halt issuing these in 1777.
Size: 2578px × 3307px
Location: USA
Photo credit: © M&N / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: 1700s, 24, 1775, america, american, anti, bank, banknote, bill, black, century, certificate, coinage, continental, continentals, credit, currency, debt, dollar, early, engraving, finance, historical, history, hundreds, illustration, independance, independence, monetary, money, nineteenth, note, paper, price, revolution, revolutionary, shilling, trade, trading, usa, war, white
