As Congress quickly discovers, creating and maintaining a continental army is an expensive undertaking. In the summer of 1775, in order to pay its mounting military expenses, Congress authorizes the release of $3 million in bills of credit, or paper notes. Issued in various denominations, the bills function as short-term public loans to the government. Each colony is expected to "sink," or invest in, a certain proportion of the bills by collecting taxes from its inhabitants. The first bills arrive from the printer and enter circulation in August 1776. To foil counterfeiters, the notes are printed on paper containing blue fibers and mica chips. By the end of 1775, Congress will authorize another $3 million in bills of credit.

To examine the entire issue of this newspaper, please see the online display of the New-England Chronicle: or, The Essex Gazette, 9-16 November 1775.