. Currency and banking in the province of the Massachusetts-Bay. ly inadequate for the needs of theexpedition and it appears from documents in the ar-chives that the government was practically unable todo anything until the General Asembly should be insession. When the Court met the matter was arrangedby a loan of bills of credit for two years to a number ofBoston merchants who furnished the supplies, takingtheir pay in sterling bills of exchange, the rate of whichwas fixed at an advance of 40 per cent. The loan effectedupon this occasion was in two instalments. The namesof the subscribers to

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. Currency and banking in the province of the Massachusetts-Bay. ly inadequate for the needs of theexpedition and it appears from documents in the ar-chives that the government was practically unable todo anything until the General Asembly should be insession. When the Court met the matter was arrangedby a loan of bills of credit for two years to a number ofBoston merchants who furnished the supplies, takingtheir pay in sterling bills of exchange, the rate of whichwas fixed at an advance of 40 per cent. The loan effectedupon this occasion was in two instalments. The namesof the subscribers to the first instalment of ^40,000 are ^ Sewalls Diary, vol. 2, Coll. Mass. Hist. Soc, 5 series, vol. 6, p. 317. Plate 7. m t1 H ^^E ^ ^^^^^1 H^K ^^H ^H 4 f ^^^^^1 WmitL\mi HHI V\-\\> liill for £2 l)Lcir> clatu I 714, and was emitted after 1721, the date of theemission being indistinct. The bill is discolored and much reduced in size bywear and trimming. It now measures 33/s in- x 4j4 in. Photographed by per-mission of the Massachusetts Historical

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Keywords: ., bookcentury1900, bookdecade1900, booksubjectbanksan, bookyear1901