Maryland Currency
1733
This is the first Maryland issue. It consisted of £90,000 in indented bills of credit which were to pass as lawful tender for most debts, except for fees due to a minister or an officer. In order to replace the then current use of tobacco as money, each taxpayer was to be given 30s in notes in return for burning 150 pounds of tobacco. The notes were to be redeemed by the loan office starting in 1748 with profits realized through investments made in Bank of England stock (the stock was purchased from the proceeds of a tax on tobacco exports). The entire emission was replaced in 1749 with one third paid off in sterling from investment profits and two thirds exchanged for new bills. The plates were engraved in England and the paper was watermarked "Maryland." Five bills of the same denomination were engraved on one sheet, the bills being distinguished by one to five stars placed after the denomination in the lower left corner. The notes were hand dated, with two signers. Denominations printed were: 1s, 1s6d, 2s6d, 5s, 10s, 15s and 20s.obv
2s6d Serial Number: [unnumbered] MD 1733
Signers: [unsigned]
Size: 71 x 240mm (length from the inner border of the indent design to the edge of the note: 165mm, length of indent design 27.5mm).
Comments: There were five notes of this denomination printed as a single sheet. Our example has two stars after the denomination in the lower left corner of the note (II.s. VI.d. **), hence it was the second bill from the top on the sheet. The stub is still attached and the note was never signed or numbered. The arms of the colony appear in the upper right. The note was torn in the center and repaired. The paper is watermarked, "Maryland". click here to view the blank back
Provenance: EANA mail bid auction 1/13/96 lot 356. Purchased through the Robert H. Gore, Jr. Numismatic Endowment.
