Statistics for occurrence #1 of “Penn.” in chapter 5 of George Bancroft, History of the United States from the Discovery of the American Continent, Vol. 3, 15th edition.:
... make returns for what was owing there.
Yet the system was imitated in every colony but Virginia.
Franklin, who afterwards perceived its evil tendencies, assisted, in 1723, in introducing it into Penn. ylvania, where silver had circulated; and the complaint was soon heard, that, as their money was paper, they had very little gold and silver, and, when any came in, it was accounted as merchandise.
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† This entity has been selected by the automated classifier as the most likely match in this context. It may or may not be the correct match.