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Early Paper Money of America / Connecticut / 1771 October 10

£12,000 ($40,000) in Treasury Notes dated October 10, 1771 and due on Oct. 10, 1773 without interest, similar to the prior issue. Signers were Benjamin Payne, William Pitkin, Elisha Williams, and George Wyllys. Slash or hole cancellation was customary on redemption. All paper money of other colonies was prohibited from circulation in Connecticut by the Oct. 1771 Act unless payable with interest in specie within 5 years, unless payable without interest in specie within 2 years, or unless issued by New York before Jan. 1, 1768. This prohibition was repealed in June 1776.


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