It was established as a haven for debtors and to provide a buffer between prosperous South Carolina and the Spanish possessions in Florida.
Answer:
The result was a severe inflation of the American dollar which caused it to become more difficult to pay off war debts. This made it hard for the government to borrow any money at all, since many did not understand exactly what the American Dollar was worth.
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The city located there is Melbourne, Victoria.
It boomed since industrialization and guns started to become key components of war