Hall, Joseph, Jr. (fl. 1779) to James Lovell
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Gilder Lehrman Collection #: GLC01450.020.01 Author/Creator: Hall, Joseph, Jr. (fl. 1779) Place Written: Boston, Massachusetts Type: Autograph letter signed Date: 22 January 1779 Pagination: 2 p. ; 33 x 21 cm. Order a Copy
Recipient inferred from content and because the collection is described as letters to or from Lovell. States that his father received the earlier letter from Lovell and thanks him. Speaks of two emissions (of bank notes or money) on 20 May 1777 and 11 April 1778 and says that some think they were a bad idea, while others see them as a method of raising the credit of paper currency. Mentions that some thought Congress did not intend to immediately put the money out of circulation but others are propagating that opinion for their own profit. Reports that a considerable quantity of the money has already been received in the Loan Office. Comments that half of his father's money was from the emissions, which he put into the Loan Office. Adds that his family sends their compliments. On reverse of the letter is an incomplete letter dated 23 March 1779 to Lovell's brother. Possibly a draft since there are numerous cross outs.
Lovell was a member of the Continental Congress from Massachusetts. Devaluation was a problem during the Revolutionary War. Individual states and the central government both had the right to issue currency. This resulted in the emission of numerous issues to pay for the war.
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