The Act of the Assembly was passed in January of 1641 which provided that no debts contracted in Virginia should be pleadable in a court of law. The only except allowed was debts paid in coin had been incurred for horses, mares and sheep. Only three years earlier the General Assembly, in the preamble of a new law bearing upon the problem of introducing money sterling, referred to the great wants and miseries which arose day after day from the general use of tobacco as currency. The piece of eight should pass as equal in value to six shillings, and all other coins of the same origin should be estimated in proportion.
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