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| Field name | Value |
|---|---|
| Collection Reference Number | GLC01450.008.03 |
| From Archive Folder | Documents Relating to 1777 |
| Title | Interest on Loan Office Certificates |
| Date | 10 September 1777; 29 December 1777 |
| Author | Gibson, John (1729-1782) |
| Document Type | Business and financial document; Military document; Correspondence |
| Content Description | Clerical copy made by Charles Thomson, Secretary. Resolution of Congress stating that the interest accrued after the date of this document on Loan Office Certificates already issued or issued before 1 March 1778, shall be paid annually at the respective offices in Bills of Exchange on the Commissioners of the United States in Paris, at the rate of five livres (currency of France) for every Spanish milled dollar, or in Continental Bills of Credit, at the option of the lenders. Second resolution dated 29 December 1777 directs the Commissioners of the Continental Loan Offices of the United States to pay the interest on certificates issued from their office, take receipts, and make returns according to the instructions of the Board of Treasury. Gibson was the United States Auditor General 1776-1779. The Continental Loan Offices administered loans to the Continental Treasury to help finance the war effort. |
| Subjects | Revolutionary War Finance Economics Congress Continental Congress Law Global History and Civics Coins and Currency Government and Civics Military History |
| People | Gibson, John (1729-1782) |
| Theme | Banking & Economics; The American Revolution |
| Sub-collection | The Gilder Lehrman Collection, 1493-1859 |
| Additional Information | Clerical copy. |
| Copyright | The Gilder Lehrman Institute of American History |
| Module | Settlement, Commerce, Revolution and Reform: 1493-1859 |