<P> One by one , colonies began to issue their own paper money to serve as a convenient medium of exchange . In 1690 , the Province of Massachusetts Bay created `` the first authorized paper money issued by any government in the Western World . '' This paper money was issued to pay for a military expedition during King William 's War . Other colonies followed the example of Massachusetts Bay by issuing their own paper currency in subsequent military conflicts . </P>
<P> One by one , colonies began to issue their own paper money to serve as a convenient medium of exchange . In 1690 , the Province of Massachusetts Bay created `` the first authorized paper money issued by any government in the Western World . '' This paper money was issued to pay for a military expedition during King William 's War . Other colonies followed the example of Massachusetts Bay by issuing their own paper currency in subsequent military conflicts . </P>
when was paper money used in the us
when was paper money used in the us
In 1690 , the Province of Massachusetts Bay created `` the first authorized paper money issued by any government in the Western World .
In 1690 , the Province of Massachusetts Bay created `` the first authorized paper money issued by any government in the Western World .