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Early Paper Money of America / Pennsylvania / 1780 April 29

£100,000 in “Island Money” was issued to purchase provisions for the Army pursuant to the Mar. 25,1780 Act. Secured by land including Province Island in Kingsessing and payable with 5% interest on June 1,1784. Made legal tender by the Dec. 23, 1780 Act but the value sank to 3 for 1 in specie in 1781. The date of invalidity was finally extended to Jan. 1, 1793 by the April 7, 1791 Act and the issue redeemed with specie. Printed by John Dunlap on paper watermarked PENSYL on one line and VANIA below. The amount of interest is part of the lower border cut on the face. A new set of nature prints on the backs. Signers were William L. Blair, Philip Boehm, Levi Budd, Robert Cather, Nathan Jones, John Knox, John Miller, Jedediah Snowden, William Thorne, Charles L. Treichel, Joseph Watkins, and Daniel Wister, with two signatures on all denominations and with one signature and numbering usually in red.

5s [8,696]
10s [8,696]
15s [8,696]
20s [8,696]
30s [8,696]
40s [8,694]
50s [8,696]
60s [8,696]
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