What was the name of the paper currency issued by Congress that became nearly worthless during the American Revolution?

Study for the AMSCO AP United States History Exam. Explore flashcards and multiple-choice questions with detailed explanations. Get ready for your APUSH exam!

During the American Revolution, Congress issued a type of paper currency known as "Continentals." These were intended to help fund the war effort but quickly lost value due to several factors, including rampant inflation and lack of backing by solid assets. As the war progressed, the inability to control inflation and the subsequent overprinting of this currency led Continentals to become nearly worthless, prompting the famous saying that "not worth a Continental" referred to something of negligible value. This situation highlighted the challenges faced by the Continental Congress in financing the war and maintaining economic stability. Other forms of currency such as Greenbacks were introduced later, during the Civil War, while Wampum refers to traditional shell beads used as currency by Native Americans, and Settlings is not a recognized form of currency in this historical context.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy