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

Farley Grubb

No 15-11, Working Papers from University of Delaware, Department of Economics

Abstract: 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.

Keywords: bills of credit; data cloning; specie monies; tax revenues; treasury notes (search for similar items in EconPapers)
JEL-codes: C82 E51 N11 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2015
New Economics Papers: this item is included in nep-acc, nep-his, nep-hpe and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Working Paper: Colonial Virginia’s Paper Money Regime, 1755-1774: a Forensic Accounting Reconstruction of the Data (2015)
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