State Redemption of the Continental Dollar, 1779-1790
Remittances of Continental Dollars to the national treasury from each state by year from 1779 through 1789 are used to determine state compliance with congressional resolutions regarding Continental-Dollar redemption. From 1781 through 1789, the states as a whole stayed well ahead of the remittance schedule set by Congress in 1779. Individual state compliance, however, varied considerably. By the time Congress changed redemption requirements with the Funding Act of 4 August 1790, a majority of the net new Continental Dollars ever emitted by Congress had already been redeemed by the states and remitted to the national treasury to be burned.
|Date of creation:||2011|
|Date of revision:|
|Publication status:||Published in William and Mary Quarterly, 3d ser., vol. 69, no. 1 (Jan. 2012), pp. 147-180.|
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- Farley Grubb, 2008.
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NBER Working Papers
14267, National Bureau of Economic Research, Inc.
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"The Continental Dollar: How Much Was Really Issued ?,"
07-09, University of Delaware, Department of Economics.
- Grubb, Farley, 2008. "The Continental Dollar: How Much Was Really Issued?," The Journal of Economic History, Cambridge University Press, vol. 68(01), pages 283-291, March.
- Farley Grubb, 2007. "The Continental Dollar: How Much Was Really Issued?," NBER Working Papers 13047, National Bureau of Economic Research, Inc.
- Calomiris, Charles W., 1988. "Institutional Failure, Monetary Scarcity, and the Depreciation of the Continental," The Journal of Economic History, Cambridge University Press, vol. 48(01), pages 47-68, March.
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