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|
|Publication status:||Published in William and Mary Quarterly, 3d ser., vol. 69, no. 1 (Jan. 2012), pp. 147-180.|
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References listed on IDEAS
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- 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, 2008.
"The Distribution of Congressional Spending During the American Revolution, 1775-1780: The Problem of Geographic Balance,"
NBER Working Papers
14267, National Bureau of Economic Research, Inc.
- Farley Grubb, 2008. "The Distribution of Congressional Spending During the American Revolution, 1775-1780: The Problem of Geographic Balance," Working Papers 08-21, University of Delaware, Department of Economics.
- Baack, Ben, 2008. "America's first monetary policy: inflation and seigniorage during the Revolutionary War," Financial History Review, Cambridge University Press, vol. 15(02), pages 107-121, October.
- Alvin Rabushka, 2008. "Introduction to Taxation in Colonial America," Introductory Chapters, in: Taxation in Colonial America Princeton University Press.
- 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. Full references (including those not matched with items on IDEAS)