New France:
'Card Money' 3 Livres, 1749
In 1685, the French colonial authorities issued the first paper
currency in North America. Faced with a shortage of coins with
which to pay his troops, De Meulles, the Intendant of New France,
introduced as a temporary expedient an issue of paper currency.
The notes were made from playing cards and the local merchants
were directed to accept this 'playing card money' with the
understanding that it could be redeemed for bills of exchange in
France before the supply ships returned to France in the autumn.
In subsequent years further issues were made but the practice was
abandoned in 1717 due to a failure of the government to always
redeem the notes in full. However in 1729 a severe shortage of
coins forced the resumption of the issue of paper currency. The
new issue was on plain white cardboard instead of playing cards
and was followed by further issues, with the last in 1757. The
'card money' was issued in various denominations, with each
denomination having its own distinctive shape. The notes were
impressed with two official seals and, like the 'playing card
money', were handwritten. The piece shown was
signed at the top by the Clerk of the Treasury Board, in the
centre by La Jonquiere (Governor 1749-52) and at the bottom by
Bigot (Intendant 1747-60). The two oval seals at the top right
are those of France and Navarre. The 'card money' also eventually
fell into disrepute because of over-issue and difficulties with
redemption. The piece illustrated is part of the
National Currency Collection, Bank of Canada.
Photography by J. A. Haxby, Bank of Canada.
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