Members Only Access The Founders Pass

You are missing out on crucial commentary video, audio and exclusive downloads!

See What You Are Missing Take The Tour!

OR Join Now

Franklin Approves!

This Day In Founding Fathers History – 21 February 2013

Michael HillegasOn this day in 1776, the Continental Congress was in session in Philadelphia:

The Committee on the treasury, to whom it was referred to consider the numbers and denominations of the bills in which the four millions of dollars, directed by Congress to be issued, ought to be emitted, brought in a report, which was considered, and agreed to, as follows:

That the four millions of dollars now to be emitted, consist of the following denominations, viz.

  • 600,000 of ⅙ of a dollar, ... 100,000
  • 600,000 of 1/3 do. ... 200,000
  • 600,000 of ½ do. ... 300,000
  • 600,000 of 2/3 do. ... 400,000
  • 130,436 of 1 dollar, ... 130,436
  • 130,437 of 2 do. ... 260,874
  • 130,436 of 3 dollars, ... 391,308
  • 130,435 of 4 do. ... 521,740
  • 65,217 of 5 do. ... 326,085
  • 65,217 of 6 do. ... 391,302
  • 65,217 of 7 do. ... 456,519
  • 65,217 of 8 do. ... 521,736

That the plates engraved for the two former emissions, may be used in the new emission of the bills from one to eight dollars inclusive, and that those bills be expressed in the following words:

[No. ]Dollars.

Own your AUTOGRAPHED copy of THE book on the American Union's realignment

Own your AUTOGRAPHED copy of THE book on the American Union's realignment

This bill entitles the bearer to receive Spanish milled dollars, or the value thereof in gold or silver, according to a resolution of Congress, passed at Philadelphia, February 17, 1776.

That the said bills be signed by two signers, and each different denomination numbered from Number 1. progressively.

That one plate with proper devices be engraved for the smaller bills now to be emitted, under the value of one dollar:

That the form of the bills be as follows:

One of a dollar, according to a resolution of Congress, passed at Philadelphia, February 17, 1776.

Richard BacheThat each of the bills be signed by one signer only, and that each different denomination be numbered from Number 1 progressively as aforesaid:

That Michael Hillegas, Richard Bache, and Stephen Paschall, Esqrs. be appointed and authorized to inspect the press:

That before they enter upon their office, they shall respectively take an oath or affirmation, to be administered to them by any magistrate, "well and faithfully to execute the trust reposed in them by a resolution of Congress, as inspectors of the press, according to the best of their skill and judgment." A certificate of which oath, or affirmation, shall be delivered to the committee on the treasury:

That each of the said inspectors respectively, shall be allowed two dollars a day for their services, while they shall be employed in inspecting the press, in execution of the said trust.

Resolved, That the committee on the treasury, be directed to have the foregoing resolutions carried into execution with all convenient despatch. 1

1 “Journals of the Continental Congress, 1774-1789, Wednesday, February 21, 1776,” Library of Congress Online