Early Paper Money of America / Pennsylvania / 1780 June 1
$1,250,000 in “Dollar Money” payable in Spanish milled dollars by Dec. 31, 1786 with 5% interest was authorized by the June 1, 1780 Act pursuant to the Continental Congress Resolution of Mar. 18, 1780, guaranteeing the payment of the bills and making the amount issued dependent upon the amount of Continental Currency exchanged at $40 (old) for $1 (new). Redemption, extension and destruction of the issue was provided for in the Acts of Dec. 19, 1780, Mar. 17, 1786, Mar. 22, 1788, Nov. 22, 1788 and April 10, 1792 with final invalidity on July 1, 1792. Face is in black. Back is in red and black. Printed by Hall & Sellers on paper watermarked CONFEDE on one line and RATION below. Face border cuts and back cuts surrounding the emblems were engraved by Henry Dawkins, a former counterfeiter for the British. Border cuts and emblems on the back were from the Jan. 14, 1779 issue of Continental Currency. Sometimes surcharged INT. PD 1 YEAR. Signers were William L. Blair, Philip Boehm, Levi Budd, Robert Cather, Nathan Jones, John Knox, John Miller, and Jedediah Snowden. Michael Shubart, and Daniel Wister, with two signers on face of all bills. The guaranty was signed by either Richard Bache or Thomas Smith.
$7 DOLLRAS misspelled in top border [25,000]