Delaware pound facts for kids
The pound was the official money used in Delaware until 1793. Back then, Delaware was one of the American colonies. People used both British money, called sterling coin, and money from other countries. To help with trade, Delaware also started printing its own paper money in 1723.
Even though Delaware's money was called "pounds," "shillings," and "pence" (like British money), it wasn't worth the same. For example, one Delaware shilling was only worth nine pence in British sterling. Later, during the American Revolution, Delaware printed special "Continental currency." This money was valued in both pounds and Spanish dollars. One Spanish dollar was worth seven shillings and six pence in Delaware currency. Eventually, the U.S. dollar replaced all these older currencies. One U.S. dollar was worth 1000 Continental dollars.
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What Was the Delaware Pound?
The Delaware pound was a type of money used in the Delaware Colony and later the state of Delaware. It was based on the British system of pounds, shillings, and pence. However, each American colony often had its own version of the pound. This meant money from one colony might be worth a different amount in another.
Why Did Colonies Have Their Own Money?
During the colonial period, it was hard to get enough British coins. So, colonies like Delaware started printing their own paper money. This helped people buy and sell things more easily. It also allowed the colonial governments to pay for services and projects.
How Did It Work with Other Currencies?
People in Delaware used a mix of money. They used British sterling coins, Spanish dollars, and their own paper pounds. The Spanish dollar was very common for trade across the colonies. It was important to know how much each type of money was worth compared to the others. This helped people make fair trades.
The End of the Delaware Pound
After the United States became an independent country, it needed a single, unified currency. The new U.S. government decided to create the United States dollar. This new dollar replaced all the different colonial and state currencies. In Delaware, this change happened in 1793. This made trade and business much simpler across the new nation.
