Colonial Era Finance

Before there was a United States, there were colonies with very different ways of paying for government. Colonists often used coins, commodities, barter, and private credit. Because hard money (Gold and Silver coinage) was scarce, some colonies experimented with paper money long before modern Americans got used to paper currency. Colonial governments raised money through local taxes, customs duties, fees, and land-related charges, then used it to pay for roads, ports, militias, courthouses, and other basic public needs.