Friday, June 22, 2012

Today in History - June 22, 1775 - Congress Issues Continental Currency

Congress Issues Continental Currency - June 22, 1775

   Today in History, in the year 1775, American colonists issued paper currency for the Continental Congress to finance the Revolutionary War. $2 million in bills of credit were issued by Congress. The American revolutionaries lacked the funds to wage a prolonged war. In the end, the Continental failed, leaving the young country with a large war debt.
Sources: History.com-Continental Currency
Factmonster.com-Continental Currency
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