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The Continental Currency Crisis

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Questions and Answers

During the Revolutionary War, the Continental dollars became worthless because

The states refused to increase taxes

Congress refused to print more money

The money was not backed by gold or silver (correct)

Inflation did not occur

Who were the most affected by the worthless Continental dollars?

Foreign investors

Small business owners (correct)

Large corporations

Congress members

Why did Congress request the states to increase taxes?

To fund the Revolutionary War (correct)

To support small business owners

To print more paper money

To stabilize the economy

What did most states do instead of increasing taxes?

<p>Print their own paper money</p> Signup and view all the answers

The Continental Currency Crisis

Choose a study mode

Podcast

Questions and Answers

During the Revolutionary War, the Continental dollars became worthless because

Who were the most affected by the worthless Continental dollars?

Why did Congress request the states to increase taxes?

What did most states do instead of increasing taxes?

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