During the 1780s, there was a trend in which governments began to create paper money, which provided relief to a country, states, and a great number of people who were heavily in debt.
This is further explained below.
<h3>What is
Paper Money?</h3>
Generally, The Paper Money Riot, also known as the Exeter Rebellion, took place on September 20, 1786, in Exeter, New Hampshire. It was an armed revolt.
After the American Revolution, the country, the states, and a great number of people were all in significant amounts of debt. Poor farmers had a tough time meeting their financial obligations since there was little gold and paper cash in circulation.
<h3>When was the first time that paper cash was used in the United States?</h3>
After the outbreak of the Civil War, the federal government, which was in urgent need of financial resources to fund the conflict, enacted the Act of July 17, 1861, which authorized the Treasury Department to produce and distribute paper currency.
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