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Colonial Virginia's Paper Money Regime, 1755-1774: a Forensic Accounting Reconstruction of the Data

Farley Grubb

NBER Working Paper No. 21785
Issued in December 2015
NBER Program(s):The Program on the Development of the American Economy

I reconstruct the data on Virginia’s paper money regime using forensic accounting techniques. I correct the existing data on the amounts authorized and outstanding. In addition, I reconstruct yearly data on previously unknown aspects of Virginia’s paper money regime, including printings, net new emissions, redemptions and removals, denominational structures, expected tax revenues, and specie accumulating in the treasury for paper money redemption. These new data form the foundation for narratives written on the social, economic, and political history of Virginia, as well as for testing models of colonial paper money performance.

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Document Object Identifier (DOI): 10.3386/w21785

Published: Farley Grubb (2017) Colonial Virginia's paper money regime, 1755–74: A forensic accounting reconstruction of the data, Historical Methods: A Journal of Quantitative and Interdisciplinary History, 50:2, 96-112, DOI: 10.1080/01615440.2016.1256241

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