

On this date...
On this day in 1690 (or 1691), the Massachusetts Bay Colony printed £40,000 in paper money , an act that was technically banned by the English crown. This was the first time paper money became widespread in the West, but after conflicts such as King William's War and the French and Indian War , the cash rapidly depreciated by almost 40 percent within a year. Regardless, other American colonies began printing money too. In 1776, in the day’s General Orders , Washington em
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