Vermont passed what was called, “An Act for the purpose of Emitting a sum of money” on this day in 1781. It allowed the state to print paper money.

The Act authorized printing 25,155 pounds in paper money. Matthew Lyon of Arlington, Edward Harris of Fairfax and Ezra Styles of Keene, New Hampshire would supervise. The State Treasurer would pick up the money on June 1st of the following year.

Printing actually began before the Act was approved, but so many bills would take a long time to print. Denominations ranging from one shilling to three pounds were determined by the state.

Both images courtesy Early Paper Money of America by Eric P. Newman in the collections of the Vermont Historical Society.

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