. Thomas Hazard, son of Robt call'd College Tom, a study of life in Narragansett in the XVIIIth century . rst in 1710. Six other issues followedbetween that date and 1740, when thebills outstanding of these dates began tobe called old tenor. The apparently highprices throughout the book must be dis-counted according to the value of the papermoney, which evidently caused endless trou-ble, and brought final disaster. Connecti-cut, New Hampshire, and Massachusettswere in the same difficulty. One bankwas issued in Rhode Island, to redeem itspredecessor, and the bills were to be invalue equal to mo
. Thomas Hazard, son of Robt call'd College Tom, a study of life in Narragansett in the XVIIIth century . rst in 1710. Six other issues followedbetween that date and 1740, when thebills outstanding of these dates began tobe called old tenor. The apparently highprices throughout the book must be dis-counted according to the value of the papermoney, which evidently caused endless trou-ble, and brought final disaster. Connecti-cut, New Hampshire, and Massachusettswere in the same difficulty. One bankwas issued in Rhode Island, to redeem itspredecessor, and the bills were to be invalue equal to money. After 1740, thevalue of the bills was to equal a specifiedweight of sfold or silver. In Rhode Is-land the issues of 1740 were at 6s. gd. per RHODE ISLAND CURRENCY 6l ounce in silver, or £$ per ounce in at the same time it took twenty-seven shillings in these bills to equal oneounce in silver,2 they soon became currentat the rate of one for four of old arose endless confusion. In 1751, ayear after the first entries in the accountbook, the value of a Spanish milled dollar. The Spanish MilTd Dollar. was declared by the General Assembly ofJune, 1763, to have been £2 16s. As thiswas a declaration of value twelve years afterthe fact, made for the use of courts in de-ciding the many difficult cases which arosefrom the depreciated currency, it was of noservice as a basis of value to the struggling 1 Weeden, Economic and Social History of New Eng-land, ch. xiii., The Period of Inflation. 2 R. I. Historical Tracts, No. 8, p. 55. 62 COLLEGE TOM accountant. Beside the Spanish dollarsthere are also mentioned in the book Jo-hannes and half Johannes, gold pieces ofthe value of eight Spanish milled dollars,and pistareens, and half pistareens. Such were the difficulties of the currencythat primitive methods of exchange had tobe resorted to. In Massachusetts from 1720to 1723 the treasury accepted beef, pork,Indian corn, hides, and other produce atfixed In
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