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Early Paper Money of America / Rhode Island / 1777 Written Dates

£50,000 ($166,667) in legal tender Treasury Notes payable 5 years after date with 4% interest and issued for circulation pursuant to the Feb. 1777 Act for money borrowed. These were payable to the order of John Smith or other fictitious persons and endorsed in blank. The sum of $86,000 was to be issued in specified denominations from $5 to $30 and the remainder was to be issued in denominations requested by the lender. Denominations over $30 were handwritten. Borders and Arms are same as in the Sept. 5, 1776 issue. Backs are blank. Signed by Joseph Clarke. These notes were refinanced pursuant to an Oct. 1782 Act by the issuance of 5 or more year 6% notes payable in Lawful Silver Money to the individuals making the exchange.
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