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CURRENCY OF THE PROVINCE. 273
of foreigners during this period was large. Among these laws passed in
1661 are: An "Act for the Conveyance of Letters;" another "for the publication of all laws within the province for the future;" one for "prohibiting
the importation of all horses, geldings, mares or colts into the province;" and
one in 1674, "for erecting a court-house and prison in each county." An act
was also passed to prevent horse racing, etc., at Quaker meetings.
On May 1st, 1661, the assembly passed an "Act concerning the setting up
of a mint within the Province of Maryland." Before giving the particulars
of this measure, it may be well to give a brief account of the early currency of the province, which sheds some light on the state of society.
It is probable that, although the power of coining money was not specified
in the charter of Maryland, CaBcilius considered the powers therein conveyed
as ample to justify him in such a proceeding, as that power had been granted
to Virginia in her patent of April 10th, 1606.1
In the earlier times of the colony, trade, to a great extent, was conducted
on the primitive principle of barter, and many contracts were drawn on this
footing. With the natives traffic was largely carried on, in addition to barter,
by the use of the shell-money called peak and roanohe, which has been
explained in a previous chapter, and this, as always available with the
Indians, found some currency among the colonists themselves, though never
to the same degree that it did in New England. The productions of the soil,
such as grain and tobacco, as well as live-stock, were received in early times
in payment of taxes, under the name of " country pay." Tobacco, however,
as the chief staple of the province, soon became the general medium of
exchange, though, perhaps, it never attained the purchasing power it once
had in Virginia, where, as Chalmers tells us, in 1621 an invoice of girls,
"handsome, and recommended for virtuous demeanor," were purchased as
wives by bachelors of the province at 100 lbs. of tobacco apiece, and the
demand was so brisk that it soon rose to 150 lbs., and the price of a wife was
made recoverable before any other debt.2
As the extended cultivation of tobacco reduced the value of that staple,
the colonists began to suffer great inconvenience from its depreciation, a
trouble which the Virginians had felt, and tried to remedy by legislation in
1640-2-3. Bents of land being payable, in many cases, in tobacco at a fixed
rate, the depreciation of the currency was felt severely by the landlords; and
as a natural consequence of the presence of an inferior medium, coin was
driven out of the colony. Various expedients were resorted to to remedy the
evil: in 1650, a levy of half a bushel of corn per poll was made upon Anne
Arundel, St. Mary's, and Kent counties, for the support of the governor.
1 Section 10 of the charter of Virginia runs there shall limit and appoint."—Lucas's Char-
thus: " And that they shall, or lawfully may, ters of the Old English Colonies, p. 5. Sketch of
establish and cause to be made a coin, to pass the Early Currency in Maryland and Virginia, by
current there between and amongst them and S. F. Streeter. Historical Magazine, ii., p. 42.
the natives there, of such metal, and in such 2 Chalmers, p. 46.
manner and form, as the said several councils
IS
| Title | History of Maryland - 1 |
| Creator | Scharf, J. Thomas (John Thomas) |
| Publisher | J. B. Piet |
| Place of Publication | Baltimore |
| Date | 1879 |
| Language | eng |
| Type | Books/Pamphlets |
| Title | 00000300 |
| Type | Books/Pamphlets |
| Transcript | CURRENCY OF THE PROVINCE. 273 of foreigners during this period was large. Among these laws passed in 1661 are: An "Act for the Conveyance of Letters;" another "for the publication of all laws within the province for the future;" one for "prohibiting the importation of all horses, geldings, mares or colts into the province;" and one in 1674, "for erecting a court-house and prison in each county." An act was also passed to prevent horse racing, etc., at Quaker meetings. On May 1st, 1661, the assembly passed an "Act concerning the setting up of a mint within the Province of Maryland." Before giving the particulars of this measure, it may be well to give a brief account of the early currency of the province, which sheds some light on the state of society. It is probable that, although the power of coining money was not specified in the charter of Maryland, CaBcilius considered the powers therein conveyed as ample to justify him in such a proceeding, as that power had been granted to Virginia in her patent of April 10th, 1606.1 In the earlier times of the colony, trade, to a great extent, was conducted on the primitive principle of barter, and many contracts were drawn on this footing. With the natives traffic was largely carried on, in addition to barter, by the use of the shell-money called peak and roanohe, which has been explained in a previous chapter, and this, as always available with the Indians, found some currency among the colonists themselves, though never to the same degree that it did in New England. The productions of the soil, such as grain and tobacco, as well as live-stock, were received in early times in payment of taxes, under the name of " country pay." Tobacco, however, as the chief staple of the province, soon became the general medium of exchange, though, perhaps, it never attained the purchasing power it once had in Virginia, where, as Chalmers tells us, in 1621 an invoice of girls, "handsome, and recommended for virtuous demeanor," were purchased as wives by bachelors of the province at 100 lbs. of tobacco apiece, and the demand was so brisk that it soon rose to 150 lbs., and the price of a wife was made recoverable before any other debt.2 As the extended cultivation of tobacco reduced the value of that staple, the colonists began to suffer great inconvenience from its depreciation, a trouble which the Virginians had felt, and tried to remedy by legislation in 1640-2-3. Bents of land being payable, in many cases, in tobacco at a fixed rate, the depreciation of the currency was felt severely by the landlords; and as a natural consequence of the presence of an inferior medium, coin was driven out of the colony. Various expedients were resorted to to remedy the evil: in 1650, a levy of half a bushel of corn per poll was made upon Anne Arundel, St. Mary's, and Kent counties, for the support of the governor. 1 Section 10 of the charter of Virginia runs there shall limit and appoint."—Lucas's Char- thus: " And that they shall, or lawfully may, ters of the Old English Colonies, p. 5. Sketch of establish and cause to be made a coin, to pass the Early Currency in Maryland and Virginia, by current there between and amongst them and S. F. Streeter. Historical Magazine, ii., p. 42. the natives there, of such metal, and in such 2 Chalmers, p. 46. manner and form, as the said several councils IS |
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