Continental Currency

About Continental Currency

Paper money issued by the Continental Congress to fund the American Revolution. Backed only by future tax collection. Not worth a continental became a common phrase as the currency hyperinflated to worthlessness by 1781. Over 240 million in continental dollars were issued. George Washington complained that a wagonload of money would not purchase a wagonload of provisions. The disaster led to the coinage clause in the US Constitution prohibiting states from issuing paper money.