Early Paper Money of America / Northwest Territory / circa 1800
Circulating Northwest Territory auditor’s notes issued at Cincinnati possibly in connection with the sale of public lands. It is not clear whether this issue was undertaken prior to or after the Act of Congress of May 10, 1800, which created four district land offices - Cincinnati, Chillicothe, Marietta, and Steubenville. Land sold at $2 per acre payable over 4 years with 6% interest on the last three installments, giving rise to substantial speculation. The illustrated note was redeemed in February 1806.