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- one problem that the u.s. faced when rebelling against the british was currency. while under british control, colonists mainly used british paper money and foreign coins. but after forming a new nation, the americans needed their own currency. they created continental currency. congress issued over 240 million continental dollars during the revolution. unfortunately, these dollars soon dropped in value. this gave rise to the popular expression,
ot worth a continental.\ by the end of 1778, continentals were worth 1/5th of their face value. by 1780, they were worth 1/40th. in the 1790s, the u.s. bought back continentals for 1% of their printed value. one reason for this decline was economic warfare. during the war the british hired artists to counterfeit continental dollars. then they funneled large amounts of these counterfeit notes into the american economy. the value of the continental dollar crashed. when people complain about todays inflation rates, i tell them about continentals.
summarize this paragraph in one sentence. be specific and clearly explain the main idea.
an appropriate title:
The paragraph discusses the U.S. currency issue during the rebellion against British control. It mentions the creation of Continental currency, its value decline (due to factors like British counterfeiting), and the expression "not worth a Continental." It also notes the U.S. buying back Continentals in the 1790s and uses it as an example when people complain about inflation.
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The U.S. faced a currency problem (Continental Dollar) during the rebellion against British control, with its value declining due to factors like British counterfeiting, and it's used as an example for inflation discussions.