The Continental Currency issued by the Continental Congress during the American Revolution and its acceptance by the American People was a true test of loyalty to the ideal of independence. It was initially to help pay the expenses of the American Revolution and was to be redeemed with taxes to be levied seperately by each of the 13 United Colonies on a quota basis. The notes were often printed on thick rag paper by Hall and Sellers of Philadelphia,. As the revolution progressed the value of the specie plummeted. The worthlessness of Continental Currency is perpetuated in the colorful American phrase, "Not worth a Continental". Jonathan Carver in Travels in America (1778) comically stated, "The Congress paper dollars are now used for papering rooms, lighting pipes and other conveniences. |
