In September 1740, two Massachusetts Land Banks organized and issued £50,000 of notes of varying amounts, without legal authorization of the Crown. An Act of Parliament declared all the transactions of the two Bank Schemes illegal and void.
On the Massachusetts North Shore
In September 1740, two Massachusetts Land Banks organized and issued £50,000 of notes of varying amounts, without legal authorization of the Crown. An Act of Parliament declared all the transactions of the two Bank Schemes illegal and void.
