The Continental Dollar: What Happened to It after 1779? / Farley Grubb.

Format:

Book

Author/Creator:

Grubb, Farley.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w13770.

NBER working paper series no. w13770

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

The Continental Dollar

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2008.

Summary:

Congress financed the American Revolution by issuing paper Continental Dollars. The story of the Continental Dollar is familiar to all -- a lot were issued and hyper-inflation ensued. Emissions were permanently discontinued in 1779. Thereafter, they became worthless and were forgotten. They had no impact on subsequent public finance. The veracity of the last part of this story is challenged here. Evidence is presented to establish that the disposition of the Continental Dollar remained an open question well into the 1790s. Evidence is also presented to establish the exact time path of the retirement of Continental Dollars between 1779 and 1790.

Notes:

Print version record

February 2008.