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Colonial Virginia's paper money regime, 1755–74: A forensic accounting reconstruction of the data

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  • Farley Grubb

Abstract

In this article, the author reconstructs the data on Virginia's paper money regime using forensic accounting techniques. He corrects the existing data on the amounts authorized and outstanding, and reconstructs yearly data on previously unknown aspects of Virginia's paper money regime, including printings, net new emissions, redemptions and removals, denominational structures, expected redemption tax revenues, and specie accumulating in the treasury for paper money redemption. These new data form the foundation for narratives written on the social, economic, and political history of Virginia, as well as for testing models of colonial paper money performance.

Suggested Citation

  • Farley Grubb, 2017. "Colonial Virginia's paper money regime, 1755–74: A forensic accounting reconstruction of the data," Historical Methods: A Journal of Quantitative and Interdisciplinary History, Taylor & Francis Journals, vol. 50(2), pages 96-112, April.
    • Handle: RePEc:taf:vhimxx:v:50:y:2017:i:2:p:96-112
    DOI: 10.1080/01615440.2016.1256241
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    References listed on IDEAS

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    1. Carter,Susan B. & Gartner,Scott Sigmund & Haines,Michael R. & Olmstead,Alan L. & Sutch,Richard & Wri (ed.), 2006. "The Historical Statistics of the United States 5 Volume Hardback Set," Cambridge Books, Cambridge University Press, number 9780521817912.
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    Cited by:

    1. Farley Grubb, 2017. "The Paper Money of Colonial North Carolina, 1712-1774," Working Papers 17-01, University of Delaware, Department of Economics.
    2. Farley Grubb, 2020. "Colonial New Jersey’s Paper Money, 1709–1775: Why Ronald Michener Insists on Using Uncorrected Data—A Reply," Econ Journal Watch, Econ Journal Watch, vol. 17(1), pages 1-71–89, March.
    3. Bryan P Cutsinger & Vincent Geloso & Mathieu Bédard, 2022. "The wild card: colonial paper money in French North America, 1685 to 1719 [Economic Structure and Agricultural Productivity in Europe, 1300–1800]," European Review of Economic History, European Historical Economics Society, vol. 26(2), pages 185-207.
    4. Farley Grubb, 2021. "Colonial New Jersey's Paper Money: A Reply to Michener Again, and Again, and Again," Econ Journal Watch, Econ Journal Watch, vol. 18(1), pages 1-79–94, March.
    5. Cutsinger, Bryan P. & Rouanet, Louis & Ingber, Joshua S., 2023. "Assignats or death: The politics and dynamics of hyperinflation in revolutionary France," European Economic Review, Elsevier, vol. 157(C).

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