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Early Paper Money of America / Massachusetts / 1740 August 1 Silver Bank

£120,000 in “Silver Bank,” “Specie Bank” or “Merchants” Bills issued by a private partnership of 107 participants headed by Edward Hutchinson and organized in Boston to compete with the Manufactory Bank. Engraved bills issued to lend out with land as security. Payable by Dec. 31, 1755 to the order of Isaac Winslow in coined silver at 6s8d per ounce or the equivalent in gold. The bills contain vignettes with a shipping motif and the motto FIAT JUSTITIA (Let there be justice). Signers were James Boutineau, James Bowdoin, Hugh Hall, Edward Hutchinson, Andrew Oliver, Thomas Oxnard, Edmund Quincy, Samuel Sewall, Samuel Welles, and Joshua Winslow. Other denominations are probable.

2s6d  (60 gr.) Wharf scene Very Fine $11500 Stack’s May 2004
5s  (5 dwt.) Skiff CF
7s6d  (7 dwt., 12 gr.) Rowboat Good $4025 Stack’s May 2004
15s  (15 dwt.) Ship  Fine $7187 Stack’s May 2004
20s  (1 oz. in silver or gold pro rata) Ship
£10  (10 oz. in silver or 13 dwt., 13 gr. in gold) Two ships
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