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Early Paper Money of America / Rhode Island / 1737 August 15, redated 1738

£10,000 approved by the May 1738 Act and £90,000 out of £100,000 authorized by the Aug. 22, 1738 Act to loan on 20 year delayed amortization mortgages bearing 5% interest and known as the Sixth Bank. Silver was then valued at 27s per ounce. Face of Aug. 15, 1737 plate redated by cutting "1738" above the word "committee." Printed by William Claggett. Deliberately cut up fractional parts of this issue were not to be accepted by the Colony Treasurer. Signers were Jahleel Brenton, John Coddington, John Gardner, George Goulding, John Potter, James Sheffield, Daniel Updike, and John Wanton.
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