Defining Moment
1775-1781
1775-1781
American Revolution Era
Defining Moment
What Americans Were Trying To Do
Pay for war when taxes and borrowing could not cover immediate needs.
What Happened
Congress issued Continental currency to finance wartime needs, but over-issuance, weak tax backing, British counterfeiting, and uncertainty helped drive depreciation.
How Public Finance Made It Possible
Paper money enabled immediate purchasing power for war, but exposed the cost of finance without reliable revenue.
What This EnabledImmediate purchasing powerWar paymentsState emissionsDebt lessons
How Americans BenefitedShort-run fundingArmy supportFiscal cautionConstitutional debate
Anchor Events
Defining Moments
Top 100 Building Events
