|This article does not cite any references (sources). (December 2009)|
The pound was the currency of Maryland until 1793. Initially, the British pound circulated along with foreign coins. From 1733, this was supplemented by paper money, known as "Proclamation Money", denominated in pounds, shillings and pence, but worth less than sterling, with 1 Maryland shilling (12 pence) = 9 pence sterling. A second "New" issue of notes was introduced in 1751, replacing the earlier notes at a rate of 1 New shilling = 1¼ Proclamation shillings.
The first issues of Continental currency in Maryland were denominated in £sd and Spanish dollars at a rate of 1 dollar = 4 shillings 6 pence. In 1780 two types of continental currency were issued, one valuing the Spanish dollar at 4 shillings 6 pence (printed in red ink and known as "Red Money"), the other (printed in black ink and known as "Black Money") valuing the Spanish dollar at 7 shillings 6 pence.
The continental currency was replaced by the U.S. dollar at the rate of 1000 continental dollars = 1 U.S. dollar.
|This article about a unit of currency is a stub. You can help Wikipedia by expanding it.|
|This Maryland-related article is a stub. You can help Wikipedia by expanding it.|