1. Throughout history, which past or present form of money has been in existence the longest?
A) Base metal (bronze and copper) coins B) Cowrie C) Pound Sterling D) Wampum
2. Where was paper money first used?
A) Lydia B) Egypt C) Greece D) China
3. Wampum (strings of beads made of clam shells) were an early form of money in New England. In 1637, Wampum became legal tender and was accepted as payment for taxes by Massachusetts Bay Colony. Why was Wampum banned as legal tender in 1661?
A) The fragility of clam shell beads B) The British outlawed its use C) Continental Currency became the preferred legal tender D) There was a significant increase in precious metal that could be used as legal tender
4. In 1690, Massachusetts Bay Colony was the first New World colony to issue paper money. Why was the first paper money issued in Massachusetts Bay Colony?
A) King William's War B) Revolutionary War C) The lack of precious metals D) For trade with Native Americans
5. Which three colonies issued Tobacco Notes in 1715?
A) South Carolina, North Carolina, Maryland B) South Carolina, Maryland, Virginia C) North Carolina, Maryland, Virginia D) North Carolina, South Carolina, Virginia Created with QuizScript