Four-Spanish-dollar note, issued May 6, 1776, typeset, Williamsburg: Alexander Purdie.
On May 6, 1776, Virginia’s House of Burgesses held its final session, signaling the end of royal authority and the dawn of the revolutionary era. Delegates authorized the issuance of £100,000 in paper currency to meet the needs of the colony as war approached. These bills were printed by Scottish-born Alexander Purdie (d. 1779), who transitioned from serving the Crown to becoming the first public printer of the Commonwealth of Virginia. The issue was backed by Spanish coin, specifically dollars milled in silver. These coins circulated widely through the colonies for decades and were the most trusted international currency of the era. Spanish dollars were so dependable that in 1792 they became the foundation for the United States dollar.