Early Paper Money of America / North Carolina / 1778, August 8 1778 Act
£850,000 ($2,125,000) in legal tender Bills of Credit payable in Spanish milled dollars pursuant to Aug. 8, 1778 Act. A total of 200,000 bills of $1/16 denomination was originally authorized but reduced to 12,500 at the Session ended Jan. 19, 1779. During the printing process six mottoes were repeated when denomination changes were made in the typeset forms. The $5 with INDEPENDENCE was not intended to have that motto because of its use on two other denominations, and was promptly noticed and corrected to another motto. A total of £24,876 5s of various denominations (including all $16) was not printed because of a smallpox epidemic affecting the printer and subsequently $50 bills with 1780 on the back were authorized at the Session begun on April 17, 1780 to replace the unprinted quantity. Printed from type by James Davis both on dark coarse mica flaked paper and on thin unsized paper. Printed backs. Denominations of $4 and higher have two signers while others have only one. Signers were Joseph Armitage, J. Burk, M. Caswell, R. Caswell, S. Caswell, Jesse Cobb, Richard Cogdell, James Coore, David Cox, Jr., Oroondates Davis, Benjamin Exum, James Green, Thomas Harvey, Benjamin Hawkins, Joseph Jones, James Kenan, James Kerr, John Lillington, C. Markland, H. Machilwien, Thomas Satterwhite, William Sharpe, R. White, and James Williams.
$1/8 UNION OF HEARTS THE STRENGTH OF INTERESTS [100,000]
$1/4 INDEPENDENCE [100,000]
$1/2 BEHOLD! A NEW WORLD [100,000]
$1 LIBERTY AND PEACE, THE REWARD OF VIRTUOUS RESISTANCE [31,250]
$1 VIRTUOUS COUNCILS THE CEMENT OF STATES [31,250]
$2 VIRTUOUS COUNCILS THE CEMENT OF STATES [25,000]
$4 A LESSON TO ARBITRARY KINGS, AND WICKED MINISTERS [12,500]
$5 BEHOLD! A NEW WORLD [16,666]
$5 INDEPENDENCE
$5 A LESSON TO ARBITRARY KINGS AND WICKED MINISTERS [16,666]
$5 THE RISING STATES [16,666]
$10 INDEPENDENCE [16,666]
$10 PERSECUTION THE RUIN OF EMPIRES [16,666] ▷CF◁
$10 UNION OF HEARTS THE STRENGTH OF INTERESTS [16,666]
$20 AMERICAN VIRTUE TRIUMPHANT [12,500]
$25 SIC TRANSIT GLORIA MUNDI (Thus passes the glory of the world) [10,000] ▷CF◁
$40 FREEDOM OF SPEECH AND THE LIBERTY OF THE PRESS [3,125]
$50 THE RISING STATES [5,000] (See issue of April 17, 1780 for other mottoes)
$100 FREEDOM OR AN HONORABLE DEATH [2,500]
$1/8 UNION OF HEARTS THE STRENGTH OF INTERESTS [100,000]
$1/4 INDEPENDENCE [100,000]
$1/2 BEHOLD! A NEW WORLD [100,000]
$1 LIBERTY AND PEACE, THE REWARD OF VIRTUOUS RESISTANCE [31,250]
$1 VIRTUOUS COUNCILS THE CEMENT OF STATES [31,250]
$2 VIRTUOUS COUNCILS THE CEMENT OF STATES [25,000]
$4 A LESSON TO ARBITRARY KINGS, AND WICKED MINISTERS [12,500]
$5 BEHOLD! A NEW WORLD [16,666]
$5 INDEPENDENCE
$5 A LESSON TO ARBITRARY KINGS AND WICKED MINISTERS [16,666]
$5 THE RISING STATES [16,666]
$10 INDEPENDENCE [16,666]
$10 PERSECUTION THE RUIN OF EMPIRES [16,666] ▷CF◁
$10 UNION OF HEARTS THE STRENGTH OF INTERESTS [16,666]
$20 AMERICAN VIRTUE TRIUMPHANT [12,500]
$25 SIC TRANSIT GLORIA MUNDI (Thus passes the glory of the world) [10,000] ▷CF◁
$40 FREEDOM OF SPEECH AND THE LIBERTY OF THE PRESS [3,125]
$50 THE RISING STATES [5,000] (See issue of April 17, 1780 for other mottoes)
$100 FREEDOM OR AN HONORABLE DEATH [2,500]
