Continental Currency Issuance (may 10, 1775 – jan 14, 1779)
Description:
During the American Revolution, the Continental Congress started making its own money, Continental Currency. This was done between 1775 and 1779. They needed cash to pay for the war against Britain, so they printed these paper bills. People used these bills to buy things, but there were too many of them, and the government kept making more without enough gold or silver to back it up. This caused the value of the bills to drop a lot, and eventually, they became almost worthless. It caused a lot of problems with the economy at the time.Added to timeline:
Date:
may 10, 1775
jan 14, 1779
~ 3 years and 8 months