Isaac Greenwood (1702–1745) graduated from Harvard College in 1721. Six years later, he returned as the first occupant of the Hollis Chair of Mathematics and Natural Philosophy at the College. During his tenure at Harvard, he published Arithmetick Vulgar and Decimal (1729), the first arithmetic book written and published in the English colonies in what is now the Eastern United States, often called Colonial America. Although the book appeared anonymously, its origins are definitely attributed to Greenwood.
Page 176 of this book, shown above, contains two typical word problems of the time.
In his Arithmetick, Greenwood chose to use the short scale value for one billion, i.e. 1 billion = 1000 x 1 million, or 109. This standard has been retained by the English speaking countries of the world. The continental countries of Europe use the long scale, i.e. 1 billion = 1 million million, or 1012.
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For more information about Isaac Greenwood, see:
"Mathematics Department Timelines: Timeline 1636-1836," available through the Harvard University Mathematics Department: http://www.math.harvard.edu/history/timeline/index.html
Leonard, David C., "Harvard's First Science Professor: A Sketch of Isaac Greenwood's Life and Work," available through the Harvard University Library: http://pds.lib.harvard.edu/pds/viewtext/2573358?op=t&n=14097