Ottoman lira issued in the form of 5 and 10 para stamps affixed to card. Ottoman lira The Ottoman lira was the currency of Ottoman Empire between 1844 and 29 October 1923 . It replaced the kuruş as the principal unit of currency, with the kuruş continuing to circulate as a subdivision of the lira, with 100 kuruş = 1 lira. The para also continued to be used, with 40 para = 1 kuruş. Until the 1930s, the Arabic script was used on Turkish coins and banknotes, with پاره for para, غروش for kuruş and ليرا for lira (تورك ليراسي for "Turkish
Early American currency Province of Massachusetts Bay created "the first authorized paper money issued by any government in the Western World." This paper money was issued to pay for a military expedition during King William's War. Other colonies followed the example of Massachusetts Bay by issuing their own paper currency in subsequent military conflicts. The paper bills issued by the colonies were known as "bills of credit." Bills of credit were usually fiat money: they could not be exchanged for a fixed amount of gold or silver coins upon demand. Bills of credit were usually issued by colonial governments to pay debts. The