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!

The paper currency issued by Congress during the American Revolution that became nearly worthless is known as Continentals. This currency was created in an effort to fund the Continental Army and other war expenses when gold and silver were scarce. However, due to a lack of backing, rampant inflation, and over-printing of the currency, Continentals rapidly lost their value. By the end of the war, they were practically worthless, leading to the phrase "not worth a Continental" to describe something of little value.

This situation was further exacerbated by British forces disrupting American economies and the fact that many states issued their own currency, complicating the financial landscape. The demise of Continentals highlights the difficulties faced by the fledgling United States in establishing a stable financial system during wartime.

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