Question

Identify 4 ways the treasury department raised money for the war effort

Answer 1

1. The 13 states used their own mmoney;
2. Congress printed it's own money (28%);
3. The 13 states issued their own debt certificates, war bonds that people could purchase; 
4. Congress got loans from European countries;
5. Congress issues debt certificates, war bonds; 
6. congress sol war bonds to wealthy patriotic Americans.

History books and many teachers will imply that the French money and supplies before and after the Battles of Saratoga made all of the difference in America winning the war. While the French assistance certainly helped, it actually did a disservice to the Americans who basically paid for their own rebellion… the merchants, suppliers, planters and growers, average families, and of course the soldiers of the Continental Army. Let’s look at the total picture of how the War for Independence was paid for – 100 percent of which was paid for by Americans themselves through taxes, bonds, IOUs, and by paying off all foreign loans.