Note 102 — Period of Paper Money, 1710-1751.

128The population at the periods named was as follows, 1730, 17,935; 1748, 32,773; 1755, 40,414; 1774, 59,707. According to the report made by the governor to the Board of Trade in 1740/1 over one hundred and twenty vessels were owned by inhabitants of the colony, "all constantly employed in trade, some on the coast of Africa, others in the neighboring colonies, many in the West Indies, and a few in Europe." Accompanying this economic development we find a rapid progress in wealth as shown in the great increase of comforts and the introduction of luxuries, and a greater diversification of industries. Many persons in the middle of the century left personal estates of from £1,000 to £2,000 in value aside from all real estate. An excellent and detailed account of this development may be found in Dorr's Planting and Growth of Providence. R.I. Hist. Tracts, No. 15.