Tobacco is something we have always been told to keep away from. It is hazardous to health, and can possibly kill its users. But ages ago, it was considered money, just like tea and salt.
Starting from 17th century AD, tobacco had a major role as currency in American colonies. For its value on par with gold, tobacco was held as the safest and most stable currency in places like Virginia and North Carolina.
In 1727, ‘tobacco notes’ became legal tender in Virginia, where the Legislature had already rated three shillings for high quality tobacco.
As time passed by, almost all transactions including levies and fine were made in terms of the substance. The system went to the extent of estimating a person’s assets in annual pounds of tobacco.
However, the price of tobacco fell in course of time, and it made way for other currencies. By mid 18th century, the tobacco-system was abandoned.
