Continental currency
E628123
Continental currency was the paper money issued by the Continental Congress during the American Revolutionary War, which rapidly depreciated and became a symbol of early U.S. financial instability.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Continental currency canonical | 2 |
Statements (44)
| Predicate | Object |
|---|---|
| instanceOf |
fiat money
ⓘ
historical currency ⓘ paper money ⓘ |
| backing | future tax revenues ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| currencyOf | Thirteen Colonies NERFINISHED ⓘ |
| denomination | dollar ⓘ |
| describedBySource |
Journals of the Continental Congress
NERFINISHED
ⓘ
early U.S. financial history works ⓘ |
| endTime | 1780 ⓘ |
| exchangeRate | depreciated heavily against specie ⓘ |
| facedProblem |
counterfeiting
ⓘ
over-issuance ⓘ |
| hasCause | financing the American Revolutionary War ⓘ |
| hasEffect |
inflation
ⓘ
loss of public confidence ⓘ phrase "not worth a Continental" ⓘ rapid depreciation ⓘ |
| historicalPeriod | American Revolutionary era NERFINISHED ⓘ |
| influenced |
Article I, Section 10 of the U.S. Constitution
NERFINISHED
ⓘ
design of U.S. constitutional limits on paper money ⓘ |
| issuer | Continental Congress NERFINISHED ⓘ |
| language | English ⓘ |
| legalTenderFor |
Thirteen Colonies
NERFINISHED
ⓘ
United States (in formation) NERFINISHED ⓘ |
| material | paper ⓘ |
| monetaryPolicy | unbacked by specie ⓘ |
| printedIn | various colonial and state printing offices ⓘ |
| region | North America ⓘ |
| relatedTo |
Colonial currency
ⓘ
Continental Congress NERFINISHED ⓘ United States dollar NERFINISHED ⓘ |
| replacedBy |
United States dollar
NERFINISHED
ⓘ
specie (gold and silver coins) ⓘ |
| securityFeature | elaborate designs to deter counterfeiting ⓘ |
| significantEvent |
First emission authorized by Continental Congress in 1775
ⓘ
eventual repudiation at steep discount ⓘ large-scale depreciation by late 1770s ⓘ |
| startTime | 1775 ⓘ |
| symbolOf |
dangers of unbacked paper money
ⓘ
early U.S. financial instability ⓘ |
| usedBy |
Continental Army
NERFINISHED
ⓘ
patriot governments in the colonies ⓘ |
| usedIn | American Revolutionary War NERFINISHED ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.