Whiskey payments, also called liquor payments, are promissory notes issued by American distilleries in the course of the 18th and nineteenth centuries. These notes had been used to finance the manufacturing and getting older of whiskey, they usually had been usually used as a type of foreign money in frontier areas.
Whiskey payments had been sometimes issued in denominations of 1 to 5 {dollars}, they usually had been usually backed by the distillery’s stock of whiskey. They had been a preferred type of funding, as they supplied a excessive price of return. Nonetheless, they had been additionally dangerous, as the worth of the notes may fluctuate relying on the success of the distillery.