Tobacco as Currency

American colonists used tobacco as currency throughout the 17th and 18th centuries. While Massachusetts colony pushed the use of wampum in the 1600s like their Native American neighbors, southern colonies Virginia, Maryland and North Caroline preferred tobacco. Dried tobacco leaves were transported easier to auction houses and shops than the wet dark green leaves. Colonists also devised tobacco notes, similar to paper money and fiat money, so all Americans could trust this currency system. Unfortunately, the Brits never caught on to the wampum or tobacco currency systems, and the taxes (considered low today) drove colonists to protest at the Boston tea party and Edenton tea party.

Sources:

Brad Haire, "Tobacco’s history poses unique soil conservation challenges" , https://www.farmprogress.com/tobacco/tobacco-s-history-poses-unique-soil-conservation-challenges

Joseph Swidurski, "Tobacco: The Most Valuable Cash Crop", The University of Central Florida, https://projects.cah.ucf.edu/economyofgoods/index.php/2018/09/11/tobacco-the-most-versatile-cash-crop/

Sharon Ann Murphy, "Early American Colonists Had a Cash Problem. Here's How They Solved It", TIME, https://time.com/4675303/money-colonial-america-currency-history

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