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CHAPTER XVI.

WHERE SPECIMENS OF THE MASSACHUSETTS BILLS ARE PRESERVED.

The description of the engraved plates heretofore given has disclosed the places of deposit of the more important of the bills upon which that description was based. It will be seen that the greater part of them are in the cabinets of the Essex Institute, the Massachusetts Historical Society, the Library of Harvard University, and the Lenox Library at New York. It is reasonable to suppose that there are many more in the hands of private collectors, but it is not an easy matter to find out where such collections are, nor is it possible when they are discovered to ascertain in all cases what they contain. Several of them which promised returns for examination were found to be deposited in fire proof vaults where they were inaccessible, and in the case of some of those which were accessible it was not possible to arrive at satisfactory conclusions as to their contents, through lack of either catalogue or such classification as would relieve extensive search. The collections of Mr. William S. Appleton, of Boston, and Mr. Nathaniel Paine, of Worcester, were kindly thrown open to my inspection, and each of them furnished information on the subject under investigation. The valuable collection made by the late Hon. Mellen Chamberlain has also contributed to this study. It was deposited in the Boston Public Library by Judge Chamberlain in his lifetime and has now become the property of the city through bequest. Through the kindness of its owner my attention was called to a bill

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which he had seen in the collection and he gave me permission to have it photographed. Since then other bills have been found there, concerning which something will be said hereafter.

There were probably at one time numerous specimens of defective bills in the archives, and of counterfeit or altered bills in the Suffolk files. In the one case they were, perhaps, attached to petitions for relief, and in the other they were deposited as evidence in criminal proceedings. One such fragment of a bill, and one impression from the middle plate attached to a committee report, both in the archives, cover the extent of the discoveries in these two great collections.

Notwithstanding the fact that the place of deposit of the more important of the bills hereinbefore described has been indicated, it was not possible in treating the special subject then under consideration to give lists of the bills in the separate collections nor to point out all particulars of interest connected with the individual specimens. Knowledge upon these points may prove useful for future investigators of this subject.

The collection of the Essex Institute at Salem contains a 5s. colony bill, bearing date December 10, 1690; a 1s. bill bearing date 1713; a 7s. New Hampshire merchants’ note of 1734; 1d., 3d. and 5d. bills of the emission of fractional currency in 1737; a 5s. bill of the Silver Bank of 1740; a 3d. bill of the Ipswich or Essex County land bank of 1741, and a 2d. bill of 1744.

The 5s. colony bill is the oldest bill that I have seen.¹ It happens that among the specimens of the early bills, especially those emitted prior to 1713, there are several which are either defective, altered, or counterfeit. They may have been taken from court

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files, or if they were found among private papers they probably owe their preservation to the fact that the owner had scruples about passing them. Although we have no other colony bill of this denomination with which to compare this 5s. bill in order to determine whether it belongs to this class, there is no reason to doubt its genuineness. The impression is evidently from the true 5s. plate of the first series and the signatures are not open to question.

The 1s. bill, printed from the designs adopted in 1713, and bearing date that year, was apparently emitted in 1740. Shilling bills of this series are to be found in each of the large collections mentioned above, and all of them were actually emitted at a much later date than 1713. The plate from which this particular bill was printed bears the following dates, in addition to the date in the text of the bill: 1714, 1718, 1719, 1721, 1722, 1723, 1726, 1727, 1731, 1735, 1736, 1738, and 1740.¹ It has only two signatures and there is no evidence that it ever had more. The old tenor bills originally were required to have three signatures of the committee. After 1714, four were required. Unless, therefore, there was some special relaxation from the rule imposed by the act of 1714, this bill was not entitled to circulate.

The 7s. bill of the New Hampshire merchants, emitted in 1734, is not, perhaps, entitled to specific recognition in a list which does not pretend to include emissions from other governments than Massachusetts Bay. New Hampshire was, however, at that time, under the same governor as Massachusetts Bay, and the steps then taken by the merchants of Portsmouth form a part of

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the contemporaneous history of the experiments to supply a currency based upon private credit. The New Hampshire merchants’ notes have therefore the same interest for us as the bills based upon private credit which were emitted in Connecticut and in Massachusetts Bay. The specimen in possession of the Essex Institute is in a good state of preservation.

The three bills, of the fractional currency of 1737, are the only representatives of this emission that I have met with. They were not actually needed in order to study the designs of the wood cuts prepared for the several denominations of this emission, for impressions evidently taken from the original wood cuts are preserved in contemporary publications of the act authorizing the emission. The currency itself is, of course, of much greater interest than the page of a law book.¹

The 5s. bill of the silver bank in this collection is the only bill emitted by this company that I have met with. It is known, however, that other bills of this bank were in existence a few years ago and it is a fair presumption that they have been carefully preserved to the present time.² This particular specimen is in good condition.

The same cannot be said of the bill of the Ipswich, or Essex County land bank, of 1741. This is badly mutilated, and although every effort has been made to repair the damage which it has suffered, it is still in wretched condition.³

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The bill for 2d., of date of 1744, is in fair condition. If we were compelled to rely upon it for our knowledge of the bills of the third plate of this emission we could form a fairly good estimate of the style of engraving employed. Fortunately, however, there are other bills of this series elsewhere.

By far the largest and most valuable collection of this currency that I have examined is that of the Massachusetts Historical Society. It contains a colony bill bearing date February 3, 1690, purporting to be for 20s.;¹ a province bill dated November 21, 1702, purporting to be for 10s.;² two of the shilling bills of the 1713 series; a bill for 18d. of the same series; a 2s. bill of the same series; two 5s. bills of the same series; a 40s. bill of May, 17 14;³ a set of the parchment tokens, for 1d., 2d., and 3d., emitted in June, 1722; two of the Boston merchants’ notes of 1733, one for 1s., 6d., and one for 2s. 6d.; a New Hampshire merchants’ note for 10s., 1734; a first new tenor bill for 6s. 8d., emitted February, 1736-37; a land bank or manufactory bill for 6d., 1740; an Ipswich or Essex County land bank bill for 1s., 1741; a 3s. bill of the second new tenor series, 1741-42;⁴ and the following bills of the last tenor, 1744: three 2d., one 4d., two 6d., one 9d., one 1s., one 5s.,⁵ and one 10s.⁶

The oldest specimen in this collection is the colony bill bearing date February 3, 1690. The date is old style, and the bill was actually emitted a few weeks later than the one in the Essex Institute. It purports to be a twenty shilling bill, but the merest perfunctory

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examination will disclose the fact that it has been altered.¹ The signs of erasure are plainly visible upon its face, and the difference between the printer’s ink used in the body of the bill and the writing ink employed for the purpose of making the changes involved in the alteration is plainly to be distinguished. Perhaps time has made this contrast more striking than it originally was. If the person who altered the denomination had performed his work more skilfully, and left no trace of his handiwork, he would still have been betrayed by the date of the bill, for we have in the archives a certificate over the signature of a clerk to the province treasurer, to the effect that there were no twenty shilling bills emitted bearing date February 3, 1690.² Through the same document we learn that many of the 2s. bills were altered to 10s., while the 2s. 6d. bills were raised to 20s. A careful examination of the spacing of the bill now filled in with the letters inserted with pen and ink, shows that it must originally have been for 2s. 6d.

The bill in this collection bearing date November 21, 1702, and purporting to be a 10s. bill, is also an altered bill.³ The impression can be easily identified through the script letters of the opening phrase “This Indented Bill,” and the escutcheon and seal of England in the lower left hand corner, as that of the design which was adopted for the 5s. bill.⁴ The only change made by the

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person who altered the bill was to substitute “ten” for “five” on the text in one place, and put a “10” in place of the “5” at the top of the bill where the denomination was designated in Arabic numerals. The work was rudely performed and the bill as it appears to-day would naturally arouse suspicion. The lack of skill of the person who made these alterations, is, however, far less conspicuous than it would be if the bill were in better condition. It is, as a matter of fact, badly worn and discolored, and has at some time been reinforced by paper pasted on its back. The number and extent of its injuries and defects may have aided its currency.

Of the two 12d. or shilling bills of 1713, nothing special need be said. They have all the characteristics of the bill which was described in connection with the Essex Institute.

The bill of the same series for 18d. is in good condition except that it is very brown. The indent has been trimmed off.

The 2s. bill of 1713 is also quite brown, and the delicate pattern of the scroll work on the back is consequently difficult to distinguish. The second signature on the bill, which was written with red ink, has almost disappeared. The indent of this bill has also been trimmed off.

The most interesting thing in connection with the five shilling bills of 1713, is the pattern on the back, and this is much better defined on the bill in the Harvard collection than on either of these specimens.

The 40s. bill of 1714 is badly discolored, and much reduced in size by wear and tear.¹ It is, in fact, in four parts, and the edges of each part are frayed. Nothwithstanding [sic]

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the dilapidated condition of the bill, there is enough of it left to determine all the essential particulars as to the designs prepared in 1714 for bills of this denomination. It is the oldest specimen from this set of plates with which I have met. The plate was used in 1716, 1718, 1721, and once thereafter, probably 1722 or 1723, but the date cannot be positively identified. The pattern on the back is quite elaborate.

The set of parchment tokens emitted in 1722 for small change is, of course, interesting, but there is nothing about them requiring special mention in this connection.

The two merchants’ notes of 1733 are of especial interest, not only because the success of a bill drawn payable in a specific weight of coined silver furnished an example, of which the province afterwards availed itself in the new tenor bills, but also because each of those notes was made payable on its face in fractional parts, at three distinct periods. This involved the idea of twice calling in each of the outstanding notes, paying off a specified fraction of the amount which it represented, and emitting a new note for the unpaid portion. This cumbrous system was to close with the payment of the last fraction in December, 1743. The engraving of the notes is excellent and they are in good condition.

The New Hampshire merchants’ note of 1734, has the same claim upon our attention as the one in the Essex Institute. The denomination being for 10s., it adds a new example of the engraved designs for these notes.

The first new tenor bill for 6s. 8d. or Sod. is well preserved. It is the only specimen of this emission with which I have met.¹

The 6d. manufactory bill, as it is termed on its face,

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or the bill of the Land Bank of 1740, to give it a title by which it will be more readily recognized, is in excellent condition. Apparently it fell into the hands of some person who realized that it would sometime become an object of interest, for it bears upon its back the following endorsement: “A Land Bank bill reserved, as a specimen of y^e mad humour among many of y^e people of this province, 1740.” The engraving of the plate is creditable.

The bill of the Ipswich or Essex County land bank is in good condition, and the work of the engraver is of excellent quality. The bill has been injured by the manner in which it has been cancelled. Each of the four signatures which it bears has been so effectively crossed out that the underlying names are illegible. This bill is for one shilling and is numbered 739,568. It seems hardly probable that a company of which so little is known could have emitted so large a sum as would be indicated by this high number.

The 3s. province bill of the 1742 series is fortunately in good condition and furnishes an excellent example of the high order of skill secured for engraving the plates. It is the only specimen of the bills actually emitted in 1742 that I have seen.¹

The 10s. bill of 1744 is dirty and not in the best of condition.² Perhaps this was intentionally brought about to conceal its defects, for the rudeness of the engraving and the wretched character of the printing on the back, readily lead to the conclusion that the bill is a counterfeit. The design may be accepted, however, as probably the one employed for the 10s. bills of the 1742 and 1744 emissions.

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The 5s. bill of 1744 is in fairly good condition and is well worthy of study for the great skill shown by the engraver.¹

The several specimens of bills from the third plate of the 1744 series furnish an excellent opportunity for studying the skill with which the engraver varied his designs in this series, while preserving at the same time the general features characteristic of the series. It will be noted, however, that the bill for nine pence was originally designed for two shillings and was ordered to be altered January 14, 1742-43.²

The collection of bills in the library of Harvard University, contains a 1s. bill of 1713; a 5s. bill of the same series;³ a bill for 18d. of the same series;⁴ a set of the parchment tokens for 1d., 2d., and 3d., 1722;⁵ a 2d. and a 6d. of 1744, and a bill for a twenty-fourth of a dollar, or three pence, emitted in 1750.⁶ After what has already been said, the only bills in this collection which call for special mention are the 5s. and the twenty-fourth of a dollar. The former is interesting on account of the perfect condition of the elaborate pattern printed upon the back of the bill. The latter is a representative of the short-lived series put forth in 1750, during the proceedings connected with the resumption of specie payments.

The collection in the Lenox Library contains a 40s. bill dated 1708;⁷ a 20s. bill dated 1710;⁸ a 1s. bill of

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the 1713 series;¹ an Ipswich or Essex County land bank bill for 2s., and the following bills dated 1744: 1s., 9d., 6d., 4d., and 2d.²

The 40s. bill of 1708, and the 20s. bill of 1710, are both interesting because they have the red monogram printed across the face. The erasure of some word written in ink at some time between the two upper signatures of the 40s. bill, raises a doubt as to the genuineness of the signatures. The printed bill, if not genuine, is certainly quite up to the standard of other contemporary bills which we recognize as impressed from the true plates.

The 20s. bill, although it bears date 1710, must represent one of the designs prepared in 1702. It differs materially from the 20s. bill, on the middle plate of which we have an impression in the Massachusetts Archives. In the “Act for exchanging the Twenty Shilling Bills of Credit,” passed in 1710,³ it is stated that the “variances” between the different 20s. bills were “small” and “not obvious without curious inspection.” If we assume that the specimen in the Lenox Library is genuine, of which there seems to be no reasonable doubt, any person who may compare this bill with the 20s. bill of the middle plate will conclude that not much inspection was required to discover that the two were not impressed from the same plate.⁴ The opening phrase, “This Indented Bill,” is in Roman capitals in one bill, and in script in the other. This was one of the places selected by the engravers for distinctive features for the different denominations. The bill which we are considering

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has one other peculiarity, which adds to its interest. The scroll work on the top of the back is printed in red ink.

The impression from the middle plate of the 1702 series of bills which was prepared by the committee to illustrate the effect of the proposed red scroll across the face of the bills may be seen in the Massachusetts Archives.¹ It has been already fully described.² It has especial interest for the student not only because we have here the designs and the lettering prepared for four of the bills of this series, but also because it reveals the manner in which they were arranged upon the plates, and shows how the indented stub must have appeared after the bills were cut off. The fragment of a bill referred to as in the same collection, was a small piece of a 20s. bill. It has no mark or sign to indicate the denomination, but is attached to a draft of a resolve, dated in 1704, authorizing the treasurer to exchange the fragment for a 20s. bill. Comparison with the 20s. bill on the middle plate shows that it was not impressed from that plate.³ As far as it goes it gives a clue to the lettering of one of the 20s. bills on the upper or high plate.

The collection of the late Hon. Mellen Chamberlain now at the Boston Public Library, is a marvel, not only on account of its great extent, but also for the care and skill with which the specimens are mounted. The bill which was shown to me by Judge Chamberlain, purported to be a 40s. bill of the 1702 series.⁴ Comparison with the impression from the middle plate in the

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archives¹ shows that the province seal and the lettering of the bill correspond with those of the 5s. bill of that plate, with the exception of the figures and letters which indicate the denomination. These plainly show the work of pen and ink substitution, and careful inspection will show that the work of erasure and change, only partially accomplished, still permits the original letters of the denomination, and the figure 5 to be traced. It would seem as if the 5s. bill of this series must have been particularly susceptible of alteration. We have already seen that beside the altered bill just described, there is one raised to 10s. in the cabinet of the Massachusetts Historical Society.² Another of these raised 5s. 1702 bills has been found in the Chamberlain collection. This time the altered denomination is 50s. A third in the same collection has been raised from 5s. to 40s. This last bill belongs to the series issued in 1708, with the date altered from 1702 to that year, and having across its face the red monogram composed of the letters A.R. Mr. Trumbull, in his First Essays at Banking in New England, says, that the monogram which was used on the Connecticut bills was more elaborate than that on the Massachusetts bills. There is in the Chamberlain collection, a Connecticut bill bearing this monogram on its face.³ In the Massachusetts bill the letters of the monogram are delineated in skeleton, all the parts of the letters being made up of two parallel lines separated from each other about one-sixteenth of an inch. In the Connecticut bill the parallel lines are used for the letters in the monogram, but a third line is introduced equidistant between them. This makes the monogram

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much more pronounced and a far more conspicuous feature in the bill. The specimen in the Chamberlain collection was a three shilling Connecticut bill of 1709. The Arabic numerals now read 30s., while the text of the bill remains three shillings.

The American Antiquarian Society has in its collection only two of these bills, a 3d., emitted probably in 1743,¹ and a 2d. of 1744. It has already been mentioned that the first of these bills is of special interest because the designs upon the plate prepared in 1742 for the 8d. bill were in 1743 made use of for a 3d. bill. This Society has also an unsigned Ipswich land bank bill.

The New London Society United for Trade and Commerce, is of at least equal interest to us with the New Hampshire company. Perhaps it is entitled to even higher consideration, since it was the first experiment actually made in New England to emit a currency based upon private credit. The Connecticut Historical Society has in its collection a 5s. bill emitted in 1732 by the New London Society. The specimen has seen hard usage, but the main features of the bill are fairly well preserved.

Mr. William S. Appleton, of Boston, has a 6d. manufactory bill in his collection. It is not quite so perfect as the specimen in the cabinet of the Massachusetts Historical Society, and unfortunately is of the same denomination.

Mr. Nathaniel Paine, of Worcester, has a 1750 bill for one-twelfth of a dollar or six pence.³ It has but one signature and bears but little resemblance to the bill of the same series in the library of Harvard University.

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The special examination heretofore made of the engraved plates brought forth a number of points which are of interest beside the mere designs adopted for the different denominations, and in addition to the peculiar features of the several series. Among these will be recognized the latitude taken by the different engravers in the ornamental work at the top of the shilling bill of 1713; the differences in the 20s. bill of 1702, and the use made by the committees for signing bills of different colored ink. Investigations of points like these depend for their elaboration upon the inspection of a number of different plates, and can only be successfully prosecuted by the study of accessible specimens wherever they may be. Other questions than those which have been discussed in this work, will doubtless arise. Perhaps other collections of these bills may turn up. Whether this be so or not, the above lists of the bills to be found in the collections mentioned will furnish a starting point for the student in determining where he will be able to carry on his work.

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