On this date in 1690, the first paper currency was issued in the U. S. —specifically, it was the Massachusetts Bay Colony. This promissory note stated that when the war ended, the bearer of the note would be able to trade it for two shillings from the British treasury. They were called bills of credit.
For more info:
http://www.numismatics.org/Exhibits/FunnyMoney7a
http://legacy.stacks.com/Lot/ItemDetail/56824
http://www.investopedia.com/ask/answers/09/paper-money-usa.asp
http://www.infobarrel.com/February_3rd__This_Day_In_History
http://famousdaily.com/history/the-first-paper-money-in.html
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