This seems to be a day book of a citizen, not a business that routinely handled bills (otherwise the entries would have been many orders ofmagnitude larger).

He kept track of the issuing bank, the serial, the date, and the names of the officers (as best he could describe them; in any event his spelling was less than academic as he usually misspelled New Hampshire, for example). -

This was in an era in which counterfeits were common and sometimes came back to "bite" the person who passed them out, sometimes landing in court. I can only presume that Jason was protecting himself against future questions. -

He did handle some notes, as did everyone, of the Farmers Exchange Bank of Gloucester, RI, and the Hillsborough Bank of Amherst, NH, both of which were LATER found to be fraudulent.

To read the earlier E-Sylum article, see:
JASON PHIPPS'S MEMORANDUM BOOK FOR BANK BILLS (www.coinbooks.org/esylum_v18n43a06.html)