Colonial Virginia’s Paper Money Regime, 1755-1774: a Forensic Accounting Reconstruction of the Data
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.
The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.
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