Not Worth A Continental

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dc.creatorBeards, Daniel E.
dc.date.accessioned2024-11-08T16:42:42Z
dc.date.available2024-11-08T16:42:42Z
dc.date.issued2/16/2018 0:00
dc.descriptionAfter the American Revolutionary War began in 1775, the Continental Congress began issuing paper money known as Continental currency, or Continentals. Continental currency was denominated in dollars from $?1?6 to $80, including many odd denominations in between. During the Revolution, Congress issued $241,552,780 in Continental currency. A primary problem was that monetary policy was not coordinated between Congress and the states, which continued to issue bills of credit. "Some think that the rebel bills depreciated because people lost confidence in them or because they were not backed by tangible assets," writes financial historian Robert E. Wright. "Not so. There were simply too many of them."Congress and the states lacked the will or the means to retire the bills from circulation through taxation or the sale of bonds. Another problem was that the British successfully waged economic warfare by counterfeiting Continentals on a large scale. Continental currency depreciated badly during the war, giving rise to the famous phrase "not worth a continental".
dc.descriptionOriginal file name fullsizeoutput_a7e (2).jpg
dc.format.extent2171 x 1895
dc.identifier.urihttps://hdl.handle.net/10929/141465
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dc.subjectNot Worth A Continental
dc.subjectMuseum at Washington National Historical Park
dc.subjectRevolutionary War Soldiers Hut
dc.subjectMorristown National Historical Park
dc.subjectHistoric Morristown
dc.subjectNational Historical Park
dc.subjectThe American Revolution
dc.subjectAmerican History
dc.subjectUS History
dc.subjectGeorge Washington
dc.subjectContinental Army
dc.subjectWinter Encampment
dc.subjectHistory
dc.subjectMorristown
dc.subjectJockey Hollow
dc.subjectThe Ford Mansion
dc.subjectMorris County
dc.subjectThe American Revolution in New Jersey
dc.subjectThe Skylands
dc.subjectLakeland
dc.subjectNew Jersey
dc.subjectNJ
dc.subjectJersey
dc.subjectThe Garden State
dc.titleNot Worth A Continental

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