Whiskey payments, often known as liquor payments, are promissory notes issued by American distilleries throughout the 18th and nineteenth centuries. These notes had been used to finance the manufacturing and getting old of whiskey, and so they had been usually used as a type of forex in frontier areas.
Whiskey payments had been usually issued in denominations of 1 to 5 {dollars}, and so they had been usually backed by the distillery’s stock of whiskey. They had been a well-liked type of funding, as they supplied a excessive fee of return. Nonetheless, they had been additionally dangerous, as the worth of the notes may fluctuate relying on the success of the distillery.