I'm looking at MUIA Plate 713 in the Spring 1994 issue of Military Collector and Historian (vol XLVI p 34-35). The artist is Peter Copeland and the authors are Marko Zlatich and Eric Manders.
The plate shows the Grenadier Company of the New York City Independent Militia in 1775-1776. The company had been in existence for at least 10 years as local militia and John Lasher was in command. After the outbreak of the Revolution it was "rechartered to support the General Association of the First Continental Congress" -- so they were fighting against the British.
The grenadier's cap is based on a portrait dated 1773. It is made of red cloth and decorated on the front with the coat of arms of New York surmounted by a crown. Crowns and other British symbols are not unusual on "American" uniforms and flags, especially in the early years of the war, since the colonies and their militia units had been part of Great Britain.
The first word in the quote, "salus," means safety or welfare. Hopefully someone else can help with the rest of the translation.
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