Early American currency

Colonial Scrip was paper money issued by the colonies in the revolution/pre-revolution era. This money was not backed by Gold or Silver and therefor the Colonies could control its Purchasing Power. It was banned by English Parliament in the Currency Act.

"We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay no one" Benjamin Franklin