Why did the value of the money printed during the revolutionary war plummet ?

1 answer:

4 0

During this time the paper money was not backed by anything such as gold or silver. In addition to this the colonies simply printed more money to pay for things which led to an enormous rise in the amount of currency in circulation which led to massive deflation. This massive deflation led the value of currency to plummet during the Revolutionary War.

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Hat was a major difference between the Massachusetts Bay Colony and Rhode Island?

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Rhode Island founder Roger Williams believed in religious toleration.

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What was America’s first constitution called?

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Answer: The Articles of Confederation and Perpetual Union

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What was one reason spain sponsored the first voyage of columbus to the west

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Keep this little phrase in mind: gold, glory, and God. In that order. The reason the Catholic monarchs Isabella and Ferdinand sponsored Columbus was

gold. They wanted to get rich off of gold, which would enable them to increase their wealth and trading power as per the economic system of mercantilism.
glory. They wanted their names to be famous. Two of the islands that Columbus saw were named after the two rulers (Isabela Island and Fernandina).
God. They were highly Catholic (remember the Spanish Inquisition?) and they wanted to spread that, in theory, to the primitive natives.

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