Springfield 1636-1886, History of Town and City, by Mason A. Green ...

SPRIXdFlELD, 2636-1886. 297
issues were occasioned by military expeditions, and the reimburse-
ments from England made hard money free enough to secure in
1 ToO, — a practical resumption of specie payment. All del)ts payable
in old tenor were paid in silver at $1 (Spanish pieces-of-eight) for
forty-five shillings. Debts in middle and new tenor were settled at
the rate of $1 for lis. 3rf. Specie currency continued until the
Revolution. The Continental Congress issued paper money in 1775.
Massachusetts made this money legal tender here in 1776 ; and this
emergency currency continued to depreciate until 1780, when it was
redeemed in specie at a depreciation of 40 to 1
An important convention gathered in Springfield in the summer of
1777. It will be remembered that at this time Massachusetts was
in doubt what course to take about a new constitution, and the con-
vention, or rather committee from the five States represented here,
went over some of the very subjects. We (j[uote from the official
journal, which is still preserved in manuscript in the city. The first
session was on July oO.
At a meeting of ComniLttees from the States of New Hamiishire, Massa-
chusetts Bay Connecticut Rhoad Islanrt and New Yorli holden at Springfield
in the County of Hampshire the ;'>Otli of July Anno Domini 1777 for tlie purpose
of iiolding a Conference Respecting the State of the Paper Currency of tlie
said Governments of the expediency of Calhng in y