Paymasters' Currency Notes and Bills |
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Notes:In the early decades of the New South Wales colony, to pay for the goods and produce obtained locally, and to pay the soldiers, the military issued Paymasters' notes and bills. Between 1798 and 1808, promissory notes and bills were issued by the officer in charge of each military unit. Similar notes were also issued by the commanders of naval supply vessels which visited the colony. The miliatary notes were consolidated regularly for Treasury Bills while the naval issues were consolidated for Bills of Exchange on the Commissioners for Victualling His Majesty's Navy.The system was changed in late 1808. All previously issued military notes were recalled and consolidated, and the issue of new notes was restricted to the Committee of Paymastership of the Corps. The old system continued to be used in remote locations such as Newcastle. Under the new arrangements, two types of notes were issued. Variable (broken value) notes were used to pay for general regimental supplies while the soldiers were paid monthly in fixed value currency notes. Consolidation for Treasury Bills, Bills on the Regiment's London Agent or specie (when available) occured quarterly. See the separate article on Paper Money in Early New South Wales.
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