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2 Shillings
| Issuer | Ipswich manufactory (Land Bank / Manufactory Scheme) |
|---|---|
| Year | 1741 |
| Type | Local banknote |
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|---|---|
| Obverse lettering | THE BANK BILL Two Shillings. WE JOINTLY and SEVERALLY, for our Selves and Partners, promiſ to take this Bill as Two Shillings, lawful Silver Money, at Six Shillings, and Eight Pence Pʳ Ounce, in all Payments Trade and Buſineſs, & for Stock in our Treaſury at anyTime, & to pay the same at the Eſtimate on Demand, to Mʳ James Eveſeth or Order, in the Province or Manufactures enumerated in our Scheme; as recorded in the County of Eſsex's Records, for Value rec.ᵈ Dated at Ipſwich, the Firſt Day of May, 1741 2ˢ 2ˢ JUSTITIA REDIVIVA |
| Reverse description | Plain unprinted verso, aged to a warm ivory tone with visible fold lines from prolonged circulation. The payee's name, James Eveseth, is inscribed in period cursive manuscript script across the centre of the note. |
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| Comments |
The Ipswich Manufactory scheme was one of several colonial-era attempts to use paper currency tied to a productive enterprise rather than land or specie. The 1741 notes were backed — nominally — by the output of a linen manufactory, an arrangement that collapsed almost immediately when the enterprise failed to produce at anything near the scale required to support the emission.
Massachusetts had banned new private land bank emissions that same year under pressure from London, which is why these manufactory notes occupy such a strange legal position: issued just as the regulatory ground shifted beneath them. Most were redeemed under duress or simply repudiated. Survivors are rare precisely because so few circulated long enough to wear.