What Happened To Currency Printed By Congress And State Governments In The 1770s And 1780s?
In a simple sentence, the currency printed by the Continental Congress and the state governments of America during the 1770s and 1780s went ‘Worthless’ by the end of the revolutionary war.
But why it became worthless?
Because the Continental Government started printing huge amounts of currencies to fulfill the Revolutionary war’s monetary needs.
Hence, its currency value significantly reduced.
However, Britain’s counterfeit gangs also contributed to making it worthless.
These things broadly ruined the economy of American, after the war.
At that time, regarding its currency, a phase went very popular.
The phase was “Not worth a continental”.
As per some sources of the US history, Congress issued a total of $241,552,780 Continental currency.