The early American colonies faced significant cash problems, and various solutions were devised to address them.
Money, or the lack of it, was a persistent issue in colonial America. The colonists were subject to British rule, where gold and silver were the official legal tender; however, British coins circulated only infrequently in the colonies. Lacking a dependable commodity to use as currency, colonial governments in the eighteenth century turned to paper money instead.
In this program, we will explore and understand the value of money in colonial America, including the types of currency used, how people kept track of it, how they obtained it, and what they could purchase. The presentation will feature period images and begin by explaining the currency of the United Kingdom, its use in the colonies, the concept of “legal money,” and the various “Tenors.” It will also outline the primary forms of the medium used for conducting business and exchanging goods in pre-revolutionary America.
Matthew Mees, Living Historian, specializes in the colonial life of the late 18th century, from British rule to the early years of independence.
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