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Subject Area: Economics
Topic: Money and Banking
Subject Area: Political Theory
Topic: The American Revolution and Constitution

Scales of Depreciation of Continental Money. - Pelatiah Webster, Political Essays on the Nature and Operation of Money, Public Finances and Other Subjects [1791]

Edition used:

Political Essays on the Nature and Operation of Money, Public Finances and Other Subjects, published during the American War, and continued up to the present Year, 1791 (Philadelphia: Joseph Crukshank, 1791).

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Scales of Depreciation of Continental Money.

Of Pennsylvania, by act of Assembly,From the merchants’ books:
Of Congress.For Philadelphia.For Virginia.
1777.
January11-211-411-4
FebruaryValue of 100 Continen. dollars in specie.11-211-211-4
March222
April21-222
May21-221-22
June21-221-22
July333
AugustDollars.90ths.8ths.333
September100000333
October90773333
November82730333
December74700444
1778.
January67850444
February61832555
March56796555
April48744665
May42775555
June36861445
July32793445
August27873555
September24785555
October20845555
November17880666
December14892666
1779.
January1285187898
February10856101010
March9871101-2101110
April88971712½ 14 16 2216
May789524222420
June68922022201820
July64001918192021
August5896202022
September488524202824
October303028
November3896381-2324536
December3300411-2453840
1780.
January3400401-2404542
February2891471-2455545
March2450611-2606550
April2450611-26060
May2450596060
June2450611-26065
July2450641-2606565
August245070657570
September2450727572
October245073758073
November2450748010074
December24507510075
1781.
January24507510075
February24507510012080
March24507512013590
April245075135200100
May.245075200500150

May 31, 1781, Continental money ceased to pass as currency, but was afterwards bought and sold as an article of speculation, at very uncertain and desultory prices, from 500 to 1000 to 1.

The exchange of State-money of Pennsylvania, in May 1781, was 2½, 6, 7, 5, and 4, to 1 hard Money.