"In 1709 the time for redemption was set at 4 years; in 1710 at 5 years; in 1711 at 6 years; this injured the credit of the bills at the same time that they became redundant. The depreciation now began. The paper was legal tender, it's acceptance being enforced from time to time by more and more stringent enactments." W.G. Sumner, "A History of American Currency" (1874), p. 17.

Fwd to 2023 and CBDC's.