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Gibson, John (1729-1782) [Interest on Loan Office Certificates]

Gilder Lehrman Collection #: GLC01450.008.03 Author/Creator: Gibson, John (1729-1782) Place Written: s.l. Type: Autograph document Date: 10 September 1777, 29 December 1777 Pagination: 1

Summary of Content: Clerical copy made by Charles Thomson, Secretary. Resolution of Congress stating that the interest accrued after the date of this document on Loan Office Certificates already issued or issued before 1 March 1778, shall be paid annually at the respective offices in Bills of Exchange on the Commissioners of the United States in Paris, at the rate of five livres (currency of France) for every Spanish milled dollar, or in Continental Bills of Credit, at the option of the lenders. Second resolution dated 29 December 1777 directs the Commissioners of the Continental Loan Offices of the United States to pay the interest on certificates issued from their office, take receipts, and make returns according to the instructions of the Board of Treasury. Gibson was the United States Auditor General 1776-1779. The Continental Loan Offices administered loans to the Continental Treasury to help finance the war effort.

People: Gibson, John, 1729-1782.

Historical Era: American Revolution, 1763-1783

Keywords/Subjects: Revolutionary War, Finance, Economics, Congress, Continental Congress, Law, Global History and US Foreign Policy, Global History and US Foreign Policy, Coins and Currency, Government and Civics, Military History

Sub Era: The War for Independence