New Industries

IO HISTORY OF AMERICAN CURRENCY. NE W IND USTRIES. Under the new circumstances they turned to new industries, and, so far from being ruined, were far better off. In 1641 corn would buy nothing", but was legal tender for debts. They turned to ship-building, carrying between Virginia and the West Indies, fishing, seal fishing on the Isle of Sable, and lumbering. These industries all prospered. In 1643 ^le croP failed, and corn was sold only for ready money or for cattle, at i2d. more per bushel than for cash. In 1648 it was necessary to order that only such peag as was unbroken and of good color should pass—legal tender up to I2d. In 1649 the colony treasurer was forbidden to take peag. The inhabitants began to reject it, but the court then ordered that peag should be legal tender for 40s., the white at eight and the black at six for a penny. Disputes arising about the barter currency for taxes, three appraisers were provided for, one to be chosen by the treasurer, the second by the owner, and the third by the marshal.