UNIVERSAL STANDARD NUMBER 1

U.S. DOLLAR STANDARD EVIDENCE

(View Also Coinage Act 1792)

 

See page 103 as EXHIBIT D and many other pages of the book titled International monetary conference, held in Paris, in August 1878, Reuben Eaton Fenton. Samuel Dana Horton. United States. Dept of State.

“…dollars or units each of the value of a Spanish milled dollar “like the dollar actually in circulation” and containing 371 and one quarter grains of pure silver…” and it continues to state “…in fact, and in the absence of a special law the Spanish dollars was probably from the beginning…” “…for all payments expressed in dollars…”

Page 103 and other pages, see website:  https://books.google.ca/books

From the U.S. Congressional Documents and Debates  http://memory.loc.gov/ammem/amlaw/lwjc.html
 
evidencing of and with the defining and of the definition of the establishing of the Commissioners or Board of Treasury, treasury office of accounts, treasury board, United States Department of the Treasury, Board of Treasury, National Treasury, Superintendent of Finance, financial committee, direction and superintendence of the standing committee for the treasury, Superintendent of Finance under the Congress and the United States as per the U.S. Congressional Documents and Debates please see website  http://memory.loc.gov/ammem/amlaw/lwjc.html as the evidence and as the evidencing of and with the defining and with the definition of the words Department of the Treasury, the Treasury Department of the United States and Treasury Department of the united States of the America

Further Evidences

See Coinage Act of 1792 Section 9 and 20 http://www.usmint.gov/historianscorner/?action=docDetail&id=326

Section 9. is with the evidencing of the these words “Dollars or units – each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, … standard silver…”

Section 20.  “And be it further enacted, That the money of account of the United States shall be expressed in dollars or units, dismes or tenths, cents or hundredths, and miles or thousandths, a disme being a tenth part of a dollar, a cent the hundredth part of a dollar, a mille the thousandths part of a dollar, and that all accounts in public offices and…”

See website again and view the original version download in Adobe PDF format since the MS Word format is not of the same wording. http://www.usmint.gov/historianscorner/?action=docDetail&id=326

 

                                                    EVIDENCE NUMBER 1

A.    “The Spanish dollar and its fractional parts were, in McCusker’s (1978, p. 7) words, “the premier coin of the Atlantic world in the seventeenth and eighteenth centuries.” Well known and widely circulated throughout the world, its preeminence in colonial North America accounts for the fact that the United States uses dollars, rather than pounds, as its unit of account.”

B.     “The Word, Currency,” Hugh Vance wrote in 1740, “is in common Use in the Plantations . . . and signifies Silver passing current either by Weight or Tale…”

C.     “Means of Payment – Bills of Credit Cash came in two forms: full-bodied specie coins (usually Spanish or Portuguese) and paper money known as “bills of credit.”.”

D.    “Means of Payment – Bills of Credit –  A second method was for the colony to lend newly printed bills on land security at attractive interest rates. The agency established to make these loans was known as a “land bank” (Thayer, 1953)”

E.     “It is important not to confuse the bills of credit issued by a colony with the bills of credit circulating in that colony. “Under the circumstances of America before the war,” a Maryland resident wrote in 1787, “there was a mutual tacit consent that the paper of each colony should be received by its neighbours” (Hanson, 1787, p. 24).22 Between 1710 and 1750, the currencies of Massachusetts, Connecticut, New Hampshire, and Rhode Island passed indiscriminately and at par with one another in everyday transactions throughout New England (Brock, 1975, pp. 35-6). Although not quite so integrated a currency area as New England the colonies of New York, Pennsylvania, New Jersey, and Delaware each had bills of credit circulating within its neighbors’ borders (McCusker, 1978, pp. 169-70, 181-182).”

By Ron Michener, University of Virginia

See website  http://eh.net/encyclopedia/money-in-the-american-colonies/

Special note “EH.net is owned and operated by the Economic History Association with the support of other sponsoring organizations.” 

http://eh.net/encyclopedia/money-in-the-american-colonies/ and the Economics History Association website is 

http://eh.net/eha/about/2014-2015-eha-officers-and-board-of-trustees-2/ where-with The Officers and Trustees who oversee the Association are the following: President is Robert Margo, Boston University, President Elect is Lee Alston, Indiana University, Executive Director Price Fishback, University of Arizona, Immediate Past Presidents are Philip Hoffman, California Institute of Technology, Robert Allen, University of Oxford, Jeremy Atack, Vanderbilt University, Anne McCants, MIT Vice-President and Joseph Ferrie, Northwestern University, Stephen Broadberry, University of Warwick, Leah Platt Boustan, University of California, Los Angeles William Collins, Vanderbilt University

 

                                                    EVIDENCE NUMBER 2

Journals of the Continental Congress, 1774-1789
THURSDAY, JUNE 22, 1775

Page 103

Resolved, That a sum not exceeding two millions of Spanish milled dollars be emitted by the Congress in bills of Credit, for the defence of America.

Resolved, That the twelve confederated colonies be pledged for the redemption of the bills of credit, now directed to be emitted.

[Note 1: 1 The list of Brigadiers and the resolution on bills of credit were printed in the Pennsylvania Packet, 11 December, 1775.]

Page 104

Resolved, that this Congress will to Morrow resolve itself into a Committee of the whole to take into consideration the state of America.

Adjourned till to Morrow at 9 o’Clock.

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc00242)):

 

                                                    EVIDENCE NUMBER 3

Journals of the Continental Congress, 1774-1789
THURSDAY, MAY 11, 1775

Page 26

No. TheDay ofA. D. 177 Borrowed and received of A. B. the Sum oflawful money, for the Use and Service of the Colony of the Massachusetts Bay; and in behalf of said Colony, I do hereby promise and oblige myself, and successors in the Office of Treasurer, or Receiver General, to repay to the saidor to his Order, the first Day of June, 1777, the aforesaid Sum of, lawful Money, in Spanish Milled Dollars, at six shillings each, or in the several Species of Coined Silver and Cold, enumerated in an Act made and passed in the 23d Year of his late Majesty, King George the Second, intituled “An act for ascertaining the Rates at which coined Silver and Gold, English half pence and farthings, may pass within this Government:” and according to the Rates therein mentioned, with Interest, to be paid annually, at six per Cent. Witness my hand

And whereas, Inconveniencies may arise by the Receiver General’s issuing Notes for small Sums: Therefore,

Resolved, That the Receiver General be, and he hereby is directed, not to issue any Notes for a less Sum than four Pounds, lawful money.

A true extract from the Minutes,

Samuel Freeman, Secretary, P. T.

[Note 1: 1 The original is in the Papers of the Continental Congress, No. 74, folio 53.]

To the Hon. Benjamin Franklin, Esq. at London.

[Note 2: 2 Franklin was on his way to America when this letter was written; and it was given to Arthur Lee, acting agent in London.]

In Provincial Congress, Watertown, April 26, 1775.

Sir,

From the entire Confidence we Repose in your faithfulness and Abilities, we consider it the happiness of this Colony, that the important

 

                                                    EVIDENCE NUMBER 4

Journals of the Continental Congress, 1774-1789
FRIDAY, JUNE 23, 1775

Page 105

The report of the Committee being read,

Resolved, That the Number and denomination of the bills to be emitted be as follows, viz:

  • 49,000 bills of 8 dollars each … 392,000
  • 49,000 do. of 7 dollars each … 343,000
  • 49,000 do. of 6 dollars each … 294,000
  • 49,000 do. of 5 dollars each … 245,000
  • 49,000 do. of 4 dollars each … 196,000
  • 49,000 do. of 3 dollars each … 147,000
  • 49,000 do. of 2 dollars each … 98,000
  • 49,000 do. of 1 dollars each … 49,000
  • 11,800 do. of 20 dollars each … 236,000
  • 403,800 … 2,000,000

Page 106

Resolved, That the form of the bills be as follows, viz:

CONTINENTAL CURRENCY

No.Dollar.

This bill entitles the bearer to receive
Spanish Milled dollars, or the value thereof in gold or silver,

according to the resolutions of the Congress, held at Philadelphia, on the 10th day of May, A. D. 1775.

Resolved, That Mr. J[ohn] Adams, Mr. J[ohn] Rutledge, Mr. [James] Duane, Doctor [Benjamin] Franklin, and Mr. [James] Wilson, be a committee to get proper plates engraved, to provide paper, and to agree with printers to print the above bills.

Resolved, that this Congress will to Morrow again resolve itself into a committee of the whole to take into their farther consideration the state of America.

Adjourned till to Morrow at 9 o’Clock.

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc00243))

 

                                                    EVIDENCE NUMBER 5

Journals of the Continental Congress, 1774-1789
SATURDAY, JULY 29, 1775 

Page 221

“Resolved, That Michael Hillegas, and George Clymer, Esqrs. be, and they are hereby appointed, joint treasurers of the United Colonies: that the Treasurers reside in Philadelphia, and that they shall give bond, with surety, for the faithful performance of their office, in the sum of 100,000 Dollars, to John Hancock, Henry Middleton, John Dickinson, John Alsop, Thomas Lynch, Richard Henry Lee, and James Wilson, Esqrs. and the survivor of them, in trust for the United Colonies.

That the provincial Assemblies or conventions do each chuse a treasurer for their respective colonies, and take sufficient security for the faithful performance of the trust

That each colony provide ways and means to sink its proportion of the bills ordered to be emitted by this Congress, in such manner as may be most effectual and best adapted to the condition, circumstances, and usual mode of levying taxes in such colony.

That the proportion or quota of each colony be determined according to the number of Inhabitants, of all ages, including negroes and mulattoes in each colony; But, as

Page 222

this cannot, at present, be ascertained, that the quotas of the several colonies be settled for the present, as follows, to undergo a revision and correction, when the list of each colony is obtained.

  • New Hampshire, … 124,069 ½
  • Massachusetts bay, … 434,244
  • Rhode Island, … 71,959 ½
  • Connecticut, … 248,139
  • New York, … 248,139
  • New Jersey, … 161,290 ½
  • Pennsylvania, … 372,208 ½
  • Delaware, … 37,219 ½
  • Maryland, … 310,174 ½
  • Virginia, … 496,278
  • North Carolina, … 248,139
  • South Carolina, … 248,139
  • … 3,000,000

“…with all such other monies as they may receive in lieu of the continental bills, which other monies the sd provincial treasurers shall endeavour to get exchanged for continental bills, and where that cannot be done, shall send to the continental treasurers the deficiency in silver or gold, with the bills making up the quota to be sunk in that year, taking care to cut, by a circular punch, of an Inch diameter, an hole in each bill, and to cross the same, thereby to render them unpassable, though the sum or value is to remain fairly legible: And

Page 223

the continental treasurers, as fast as they receive the said quotas, shall, with the assistance of a committee of five persons, to be appointed by the Congress, if sitting, or by the assembly or convention of the province of Pensylvania, examine and count the continental bills, and in the presence of the said committee, burn and destroy them. And the silver and gold sent them to make up the deficiencies of quotas, they shall retain in their hands until demanded in redemption of continental bills, that may be brought to them for that purpose, which bills so redeemed, they shall also burn and destroy in presence of the said committee. And the treasurers, whenever they have silver or gold in their hands for the redemption of continental bills, shall advertise the same, signifying that they are ready to give silver or gold for such bills, to all persons requiring it in exchange.”

“…That the continental treasurers be allowed for their service this year, five hundred dollars each.

Resolved, That the paymaster general, commissary-general, quartermaster general, and every of their deputies, shall take an Oath, truly and faithfully discharge the duties of their respective stations.”

Page 224

“…Mr. [Thomas] M’Kean, from the Committee, for that purpose appointed, reported the form of a bond, to be given by the joint continental Treasurers.

Ordered, That the said Committee do inspect into the sufficiency of the sureties.

Adjourned till Monday at 8 o’Clock.”

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc00274)):

 

                                                    EVIDENCE NUMBER 6

Journals of the Continental Congress, 1774-1789
WEDNESDAY, NOVEMBER 29, 1775

Page 390

On Motion made, Resolved, That Mr. R[obert] Morris be added to the foregoing Committee.

The Congress then took into consideration the report of the Committee on the state of the treasury, and came to the following resolutions thereon:

Resolved, That a quantity of bills of Credit be emitted by Congress amounting to 3,000,000 of Dollars.

Resolved, That it be referred to the Committee to consult with the printer, and report the number and denomination of the bills to be emitted, and that they contract for proper paper for this purpose.”

See website http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc00362))

 

                                                    EVIDENCE NUMBER 7

Quoting Farley Grubb Professor of Economics, University of Delaware, and National Bureau of Economic Research on page 3

“There are two distinct epochs of paper money in America. The first began in 1690 and ended with the adoption of the U.S. Constitution in 1789. In this first epoch the legislatures of the various colonies (later states) directly issued their own paper money — called bills of credit — to pay for their own governments’ expenses and as mortgage loans to their citizens, who pledged their lands as collateral.”

See website  https://www.philadelphiafed.org/publications/economic-education

 

                                                    EVIDENCE NUMBER 8

Journals of the Continental Congress, 1774-1789
WEDNESDAY, JULY 6, 1785.

Page 499 and page 500

“Congress took into consideration the report of a grand committee, consisting of Mr. [David] Howell, Mr. [Abiel] Foster, Mr. [Rufus] King, Mr. [Joseph Platt] Cook, Mr. [Melancton] Smith, Mr. [John] Beatty, Mr. [Charles] Gardner, Mr. [John] Vining, Mr. [William] Hindman, Mr. [James] Monroe, Mr. [Hugh] Williamson, Mr. [Charles] Pinckney and Mr. [William] Houstoun, on the subject of a money unit.

And on the question, That the money unit of the United States of America be one dollar, the yeas and nays being

required by Mr. [David] Howell; Every member answering ay, it was

Resolved, That the money unit of the United States of America be one dollar.”

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc0295))

“And text such as:

[Resolved] That the money unit of the United States, being by the resolve of Congress of the 6th July, 1785, a dollar, shall contain of fine silver, three hundred and seventy-five grains, and sixty-four hundredths of a grain.

From the broadside: “By the United States in Congress assembled. August 8, 1786 : On a report of the Board of Treasury…”

See website  http://www.loc.gov/teachers/classroommaterials/connections/continental-congress

 

                                                    EVIDENCE NUMBER 9

Exchanging bills of credit for money or specie

Page 8

“Bills of Credit

Prior to the Revolution, the American colonies by and large did not coin money or regulate the value of foreign coin, although there were at times such efforts, but Parliament forbade them in 1707. For media of exchange, the Colonies used specie, commodities (such as tobacco), book credits or advances made by merchants, and paper currencies. The coins were mostly Spanish and Portuguese coins. The paper went by the name bills of credit. A bill of credit was a debt instrument, issued or emitted, that promised redemption in the future, not in money itself, but in a value equivalent to a certain amount of specie or money”

With the Book with the title “THE WRITER’S FREE INTERNET EDITION – VOLUME III,  THE U.S. CONSTITUTION AND MONEY Corruption and Decline by Michael S. Rozeff Emeritus Professor of Finance University at Buffalo” EAST AMHERST 2010

See website  http://www.docstoc.com/docs/149986357/The-US-Constitution-and-Money

 

                                                    EVIDENCE NUMBER 10

Also see further in this evidence section below the Journals of the Continental Congress, 1774-1789, SATURDAY, SEPTEMBER 26, 1778,Page 962

Now On Page 9 and Page 10

“The Bill read something like the following: -10-

“This Bill entitles the Bearer to receive THIRTY Spanish milled Dollars, or the value thereof in Gold or Silver, according to a Resolution passed by Congress at Philadelphia, Sept. 26 , 1778.”  The Spanish milled Dollar was a silver coin carrying the name Dollar and having a weight in silver of approximately 368 to 374 grains of fine silver. It was also known as “Pieces of Eight….”. “…The Spanish milled Dollar, as we shall see, became the money unit or dollar of the United States or what the word Dollar means…” “we have evidence of what was meant by a dollar.”

“…These bills of credit …” “…They could be passed from hand to hand: payment was to the bearer;…”

“The bills of credit were “paper money.” “ Paper money cannot be defined until there exists some real asset that has value or is a standard. Hence, paper money is a derivative whose value depends on the many factors that influence the probability of payment and also the value of the gold and silver that it may promise to pay. Money (gold and silver coin) is not a liability or debt of any kind, and it is not a derivative. It is an asset whose value depends solely on what it itself as gold and silver is worth. Paper money and coin are only both termed money because they both are being used as a convenient medium of exchange.”

In support of the above please read below this evidence

Journals of the Continental Congress, 1774-1789
SATURDAY, SEPTEMBER 26, 1778

Page 962

“That the form of the bills be as follows:

No.dollars.

This bill entitles the bearer to receive Spanish milled dollars, or the value thereof in gold or silver, according to a resolution passed by Congress, at Philadelphia, September 26, 1778:

That each denomination or class of bills be numbered from the number one progressively:

That the thirteen United States be pledged for the redemption of the bills of credit now ordered to be emitted.

[Note 1: 1 This report, dated September 25, is in the Papers of the Continental Congress, No. 136, II, folio 573.]

Page 963  

Resolved, That Charles Alexander, Richard Eyres and Samuel Lyon, be appointed signers of the bills of credit, in addition to those already appointed.

Adjourned to Monday, 9 o’Clock.”

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc01223))

Evidence of this fact is with the confirmation with the

Book : Congressional Series of United States Public Documents, Volume 1739, report of the committees of the senate of the United States for the second session of the forty-forth congress. 1876-’77. Washington Government Printing Office.

Page 253 question numbers  76, 78, 79, 80, 81, 82, 83 etc.

 

Testimony of James Ross Snowden was treasurer of the United States Mint from 1847 to 1850, and director of the Mint from 1853 to 1861

Question no. 76. “Upon what were the contracts in this country based up to that time ?  What unit of value was in use ? – Answer The dollar was the unit of value.”

Question no. 78. “Was not the majority of contracts based upon the Spanish milled dollar ? – Answer I have no doubt they were.”

Question no. 79. “How many grains of pure silver were in the Spanish silver dollar ? – Answer “Ah I think 371 and one quarter.”

Question no 80. “What was the unit standard of value previous to the passage of the mint law of 1792 ? – Answer The Spanish-American Dollar.”

Question no. 81. “How many grains of silver were in that ? – Answer I think 371 and one quarter. I know the effort was made in the act of 1792 to hit exactly the Spanish-American Dollar.”

Question no. 82. “Then the question of Mr. Hamilton in framing the mint act of 1792 was not to create a new dollar, but to take as near as possible the value of the dollar actually in circulation and upon which contracts had been based? – Answer Unquestionably so ; the actual value.”

Question no 83. “…But as all contracts in this country prior to 1792 had been based upon the Spanish Milled Dollar…”

Question 83. “…value of silver in Spanish milled dollar debasement of the coinage and a fraud on the part of the founders of our republic to issue a dollar reduced to Spanish 371 and one quarter grains of pure silver?” Answer “It was wrong in itself.”

See website  https://books.google.ca/books

 

                                                    EVIDENCE NUMBER 11

This evidence section continues providing more factual information regarding the Treasury and its role with Bills of Credit and exchanging for a long period from the United States Department of the Treasury herself and even before the year of 1789.

“Though formally established as an executive department by the First Session of Congress in 1789, many functions of the Department of the Treasury were being carried out even before the signing of the Declaration of Independence thirteen years earlier.”

See website  http://www.treasury.gov/about/education/Documents

The United States Treasury in all of its forms is with the evidencing in this our “addendum” that it is with the exchanging of Bills of Credit with Spanish milled dollar or gold or silver.

It is also with the evidencing with this our “addendum” that the United States Treasury and all of its forms that the confirmation of the fact that the treasury was with the establishing many many years before the year of 1789.

See websites:

Establishment of the United States Department of the Treasury http://www.treasury.gov/about/history/Pages/default.aspx

See evidence from the Department of the Treasury http://www.treasury.gov/about/education

 With the evidence of the Continental Congress and with all of its Journals at the Library of Congress and with all of the others evidence with this here-with “addendum” it is evidenced that the United States Department of the Treasury continues its books and accounts since many years before in all of its variety of forms as examples of fact with the defining and of the definition of the establishing of the Commissioners or Board of Treasury, treasury office of accounts, treasury board, United States Department of the Treasury, Board of Treasury, National Treasury, Superintendent of Finance, financial committee, direction and superintendence of the standing committee for the treasury, Superintendent of Finance under the Congress and the United States as per the U.S. Congressional Documents and Debates as the evidence and as the evidencing of and with the defining and with the definition of the words Department of the Treasury, the Treasury Department of the United States and Treasury Department of the united States of the America

See websites:

http://memory.loc.gov/ammem/amlaw/lwjclink.html

 http://memory.loc.gov/ammem/amlaw/lwjc.html

 It is also with this our “addendum” that the first constitution of the United states and ratified is with the evidencing of the issuance of the bills of credit.

Establishment of the United States Department of the Treasury

See websites  http://www.treasury.gov/about/history

see evidence from the Department of the Treasury http://www.treasury.gov/about/education/Documents

 “…Though formally established as an executive department by the First Session of Congress in 1789, many functions of the Department of the Treasury were being carried out even before the signing of the Declaration of Independence thirteen years earlier. Over the decades, the functions of the Department have expanded and grown more sophisticated to meet the needs of a developing nation….”

“…On September 2, 1789, Congress created a permanent institution for the management of government finances: Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That there shall be a Department of Treasury, in which shall be the following officers, namely: a Secretary of the Treasury, to be deemed head of the department; a Comptroller, an Auditor, a Treasurer, a Register, and an Assistant to the Secretary of the Treasury, which assistant shall be appointed by the said Secretary…

In 1789 the present United States Department of the Treasury

Please see attachment Debt Limit Letter 20150313 whereby the letterhead of the DEPARTMENT OF THE TREASURY has a date of 1789. This is signed by Jack Lew Secretary of the Treasury March 13, 2015 from the DEPARTMENT OF THE TREASURY, SECRETARY OF THE TREASURY to the The Honorable John A. Boehner, Speaker, U.S. House of Representatives, Washington, DC 20515.

The Treasury evidence goes on to state regarding bills of credit

See website  http://www.treasury.gov/about/education/Documents

“…The history of the Department of the Treasury began…” and “…The Congress had no power to levy and collect taxes, nor was there a tangible basis for securing funds from foreign investors or governments. The delegates resolved to issue paper money in the form of bills of credit, promising redemption in coin on faith in the revolutionary cause. On June 22, 1775, only a few days after the Battle of Bunker Hill, Congress issued $2 million in bills; on July 25, 28 citizens of Philadelphia were employed by the Congress to sign and number the currency. On July 29, 1775, the Second Continental Congress assigned the responsibility for the administration of the revolutionary government’s finances to Joint Continental Treasurers, George Clymer and Michael Hillegas. The Congress stipulated that each of the colonies contribute to the Continental government’s funds. (Left) Michael Hillegas, first Treasurer of the United States, 1775- 89

“(Right) Robert Morris, Superintendent of Finance, 1781-84. (Bureau of Engraving and Printing)”  

“…the Congress, on February 17, 1776, designated a committee of five to superintend the Treasury, settle the accounts, and report periodically to the Congress. On April 1, a Treasury Office of Accounts, consisting of an Auditor General and clerks, was established to facilitate the settlement of claims and to keep the public accounts for the government of the United Colonies.”

“… Michael Hillegas was first called Treasurer of the United States on May 14, 1777. The Treasury Office was reorganized three times between 1778 and 1781….”

                                                    EVIDENCE NUMBER 12

Evidence in support of Evidence number 11 above as per the United States Department of Treasury making the statement that the Treasury began 13 years before

Journals of the Continental Congress, 1774-1789
SATURDAY, FEBRUARY 17, 1776

Page 156

The committee on the state of the treasury, brought in their report, which was read:

Resolved, That a standing committee of 5 be appointed for superintending the treasury:

That it shall be the business of this committee,

To examine the accounts of the treasurers, and, from time to time, to report to Congress the state of the treasury;

To consider of ways and means for supplying gold and silver for the support of the army in Canada:

To employ and instruct proper persons for liquidating the public accounts, with the different pay masters and commissaries in the continental service, and the conventions, committees of safety and others who have been or shall be entrusted with the public money; and, from time to time, to report the state of such accounts to Congress:

To superintend the emissions of bills of Credit:

The members chosen, Mr. [James] Duane, Mr.

Page 157

[Thomas] Nelson, Mr. [Elbridge] Gerry, Mr. [Richard] Smith, and Mr. [Thomas] Willing.

The Congress taking into consideration the report of the committee on the treasury;

Resolved, That a farther sum of four millions of dollars be, emitted on the same security as the sums of money heretofore emitted by Congress have been:

That, the committee for superintending the treasury be directed to consider the numbers and denominations of the bills in which it will be proper to emit the above 4 millions, and report to Congress.

Page 159

Resolved, That the sum of 35,000 dollars be advanced to the convention or committee of safety of New York, for the support of the troops employed in the defence of that colony; the said convention or committee of safety

Page 160

to be accountable for the expenditure thereof; and that an order be drawn on the treasurers for the above sum, in favour of the delegates of that colony, who are directed to forward the same:

The Committee of Claims reported, that there is due,

On an account exhibited by the committee of Frederick county, Maryland, to be paid to S. Chase and W. Paca, Esqrs the sum of 860 9/10 dollars, of which 268 4/10 dollars being for riffles, &c. furnished Captain M. Cressop’s company of rifflemen, ought to be charged to the said company, the remainder to the continent:

To Nicholas Hower, for waggonage, the sum of 74 4/10 dollars, and that the same ought to be paid to Daniel Hower.

[Note 1: 1 In the back of “Secret Journal, No. 8” is a list of warrants issued by Charles Thomson. This name is there given as Flower.]

Ordered, That the above accounts be paid.

Adjourned to 10 o’Clock on Monday.

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc00445)):

 

                                                    EVIDENCE NUMBER 13

Further evidence of Bills of Credit through the Treasury

Journals of the Continental Congress, 1774-1789
TUESDAY, MAY 20, 1777.

Page 373

“Resolved, That the sum of five millions of dollars, in bills on the credit of the United States, of the same tenor (excepting the date), and ∥of the same∥ denominations as the last emission, be forthwith emitted under the direction of the Board of Treasury.”

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc007110))

 

                                                    EVIDENCE NUMBER 14

Treasury

Journals of the Continental Congress, 1774-1789
THURSDAY, JULY 7, 1785.

Page 516

April, 1784; and to call upon the deliquent states to make up their respective quotas of the said 8 millions of Dollars.

Resolved, That a committee be appointed the board of treasury be directed to consider and report the most practicable measures for expediting the settlement of the accounts, subsisting betwixt the several States and the Federal Union United States.

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc0296)):

 

                                                    EVIDENCE NUMBER 15

In the NEW-YORK JOURNAL OF AMERICAN HISTORY, with the title hamilton and the federalist financial revolution, 1789–1795 by Richard Sylla

Page 35 and page 36

“The u.s. dollar came into being in 1791, when Congress adopted the recommendations of Hamilton’s Mint Report submitted that year.” and  “…defined the dollar in terms of weights of both gold and silver, as was usually the case among the leading nations of Europe. Fast forward to 1795. The new dollar had become the unit of account for the United States. The u.s. Mint was beginning to make silver and gold coins denominated in dollars.”

See website  http://www.alexanderhamiltonexhibition.org

 

                                                    EVIDENCE NUMBER 16

Evidence of the formation of the Treasurer formation September 6, 1777 and also the evidencing of the exchanging of Bills of Credit for dollars

Journals of the Continental Congress, 1774-1789
SATURDAY, SEPTEMBER 6, 1777

Page 714

“…Resolved, That there be paid to David Nesbit, or order, 250 dollars, in discharge of a bill drawn in his favour by John Ashe, Esqr. public treasurer of the State of North Carolina, on the continental treasurer, expressed to be for the use of the United States; the farther sum of 500 dollars in discharge of another bill drawn in his favour by the said public treasurer of North Carolina on the continental treasurer, both the said bills bearing date the 10th of May last; and the further sum of 125 dollars…”

page 718

“…Resolved, That there be allowed to Michael Hillegas, Esqr. treasurer of the United States, from the sixth day of August, 1776, when Mr. Clymer resigned the office of joint treasurer, a salary after the rate of three thousand two hundred dollars per annum, for discharging the duties of that office….”

See website  http://memory.loc.gov/cgi-bin/query/r?ammem/hlaw:@field(DOCID+@lit(jc00893))

 

                                                    EVIDENCE NUMBER 17

Please see the evidence of the letter from Jack Lew, Secretary of the United States Department of the Treasury and with his signature to Congress and Speaker of the House and others whereby it is in the present time and day of they year march 13, 2015 A.D. matters continue to be as was with Bills of Credit years ago.

Mr. Jacob J. Lew formal letter with the of March 13, 2015 whereby he addresses himself to the Honorable John A. Boehner, Speaker, U.S. House of Representatives, Washington, DC 20515 “…regarding the debt limit.” Mr. Lew continues to state that on “…Beginning on Monday, March 16, the outstanding debt of the United States will be at the statutory limit.”

  View attachment Debt Limit Letter March 13, 2015

whereby the letterhead of the DEPARTMENT OF THE TREASURY has a date of  1789. This is signed by Jack Lew Secretary of the Treasury March 13, 2015 from the DEPARTMENT OF THE TREASURY, SECRETARY OF THE TREASURY to the The Honorable John A. Boehner, Speaker, U.S. House of Representatives, Washington, DC 20515