250 Years Ago troop Payments

[jeff of pa]

The Virginia Gazette​

Williamsburg, Virginia · Friday, June 28, 1776

The value of 5 shillings largely depended on whether it was spent in British Sterling or one of the localized colonial currencies:

• British Sterling: 5 shillings was a substantial sum, enough to purchase roughly 30 to 40 pounds of flour, or a pair of high-quality leather shoes. [1]
• Colonial Currency:Because the 13 colonies issued their own paper money, the exchange rate to the Spanish milled dollar (the most popular coin at the time) fluctuated.
  • In Pennsylvania, Delaware, and New Jersey, 5 shillings equaled about $0.66.
  • In New York and North Carolina, it was worth about $0.62.
  • In Massachusetts and Virginia, it was closer to $0.83. [1, 2, 3]

Resources like the Colonial Williamsburg Money Guide offer a deeper look into the complexities of Revolutionary-era money.

 

[russau]

And the Generals and officers got all the rest of the money!