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Issue of June 7, 1712
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The Issue of June 7, 1712 series of South Carolina Colonial Currency in the U.S. Currency contains 2 distinct entries.
£52,000 (£34,666 13s4d sterling at 50% advance) in indented Bills of Credit made legal tender up to 40s by the June 7, 1712 Act. Of this total £32,000 was to be loaned for 12 years on real estate mortgage security, £16,000 was to be exchanged for all outstanding bills except the Tusquerora Bills, and £4,000 was for general expenses. These were known as “Bank Bills” and the first use of paper money in America to stimulate economic progress. Signers were Richard Beresford, Thomas Broughton, Benjamin Godin, George Logan, Arthur Middleton, Joseph Morton, William Rhett, Peter Slann, and Christopher Wilkinson. Other denominations are probable.
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The prices listed in our database are intended to be used as an indication only. Users are strongly encouraged to seek multiple sources of pricing before making a final determination of value. CDN Publishing is not responsible for typographical or database-related errors. Your use of this site indicates full acceptance of these terms.
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