NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Cory S. Cutsail

IMA consulting
University of Delaware
Newark, DE 19716
United States

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
Institutional Affiliation: IMA consulting

NBER Working Papers and Publications

November 2018The Paper Money of Colonial North Carolina, 1712–74: Reconstructing the Evidence
with Farley Grubb: w25260
Beginning in 1712, North Carolina’s assembly emitted its own paper money and maintained some amount of paper money in public circulation for the rest of the colonial period. Yet, data on colonial North Carolina’s paper money regime in the current literature are thin and often erroneous. We correct that here. We forensically reconstruct North Carolina’s paper money regime from original sources—providing yearly quantitative data on printings, net new emissions, redemptions and removals, and amounts remaining in public circulation. These new data provide the basis for future economic, political, and social histories of colonial North Carolina.

Published: Cory Cutsail and Farley Grubb, “The Paper Money of Colonial North Carolina, 1712-1774,” Journal of the North Carolina Association of Historians, vol. 27 (Sept. 2019), pp. 1-31.

September 2017The Paper Money of Colonial North Carolina, 1712-1774
with Farley Grubb: w23783
Beginning in 1712, North Carolina’s assembly emitted its own paper money and maintained some of its paper money in public circulation for the rest of the colonial period. This paper money has been reviled as an archetype of what was bad about the paper monies issued by American colonial legislatures. Yet little systematic analysis of North Carolina’s paper money has been undertaken. We correct that here. We reconstruct North Carolina’s paper money regime from original sources—providing yearly quantitative data on printings, net new emissions, redemptions and removals, amounts remaining in circulation, denominational structure, as well as the paper money’s current market value in pounds sterling. We identify different paper money regimes based on how the assembly structured and executed its...
 
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