Defining Moment
1690s-1760s
1690s-1760s
Colonial Settlement Era
Defining Moment
What Americans Were Trying To Do
Pay soldiers, support defense, and keep commerce moving when specie was scarce.
What Happened
Several colonies issued bills of credit to finance military expeditions, defense, and public obligations. These experiments showed both the usefulness and danger of paper money.
How Public Finance Made It Possible
Emergency finance gave governments a flexible tool when taxes or hard currency were insufficient.
What This Enabledliquiditywartime supportbut also experienced depreciationcreditor disputes
How Americans Benefitedliquiditywartime supportbut also experienced depreciationcreditor disputes
Anchor Events
Top 100 Building Events
