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- Title
CURRENCY DISCUSSION IN MASSACHUSETTS IN THE EIGHTEENTH CENTURY.
- Authors
Davis, Andrew McFarland
- Abstract
The article presents information on the bank controversy that took place in Massachusetts in the eighteenth century. Province bills were issued by the State Assembly to mark the expenses of the government until 1730 by the passage of resolves. However in May 1730, instructions were issued that no further bills should be issued by restricting current expenditures not more than £330,000. Such instructions diminished the currency in circulation. Year 1737 marked its presence with pamphlet warfare for a Land Bank. A plan was proposed in 1738 for the emission of new form of bills by the Province where payments on loans will be made in annual installments in coin.
- Subjects
MASSACHUSETTS; BANK notes; EIGHTEENTH century; FEDERAL land banks; DEVALUATION of currency; LEGISLATIVE bills; LOANS; PAYMENT; PUBLIC spending
- Publication
Quarterly Journal of Economics, 1897, Vol 11, Issue 2, p136
- ISSN
0033-5533
- Publication type
Article
- DOI
10.2307/1882125