The Story of Money: 07--America's First Paper Money Redeemable in English Shillings
|Section 7: Paper money||Previous | Next | Section Index|
|America’s first paper money was redeemable in English shillings
Coins of any sort were scarce in the New World, and the colonists were forced to make paper money. Massachusetts Bay Colony notes of 1690, redeemable in English shillings, were the first paper bills issued by the government in America.