Connecticut 1789 2 Pounds 18 Schillng and 2 Pence, Colonial Note PMG 64 Choice Uncirculated "Oliver Wolcott" CT- Wlctt

Connecticut Colonial Note

Oliver Wolcott, Jr. graduated from Yale in 1778 and was admitted to the bar in 1781. His father was one of the signers of the Declaration of Independence from Connecticut, while he himself became an important member of the Government of the new USA. Wolcott, a third generation scion of an American family prominent in Connecticut and national affairs during the colonial and early national periods, had attracted attention as a specialist in public finance for his work in settling the financial dispute between Connecticut and the Federal Government in 1784.

Colonial Notes went through several stages of development in the Revolutionary history of the United States. Few coins were minted in the thirteen colonies so the Colonial governments issued Colonial Notes to facilitate economic activity.

During the American Revolution, the colonies became independent states. Freed from British monetary regulations they issued Colonial Notes to pay for military expenses. The Continental Congress also issued Colonial Notes during the Revolution to fund the war effort.

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