Paper Currency Would Replace Answer This Responde
Hi,
I need a reply to this comment about the United States history. Agree or disagree, and provide evidence, details or citation from the book. I will provide you with access to the EBook. This should be between 150 – 250 words in length.
RE: Question 1: What challenges did the United States face in the immediate years after the American Revolution and why? What were the outcomes of those challenges?
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America signed the Treaty of Paris with Great Britain in 1783 ending the American Revolution. This was a great victory for the Patriots after enduring all of the hardships of war, but there were still more challenges to face when creating a new nation.
The Articles of Confederation were the first form of government in America. It was deemed “weak by design”. “A half-starved, limping government, always moving upon crutches and tottering every step-George Washington ” (Emory 192) Washington was criticizing the Articles of Confederation and their lack of authority and resources. The Confederation Congress could not regulate trade, repay debt, enforce terms of treaties, or force men to fight in war. Their lack of power to enforce laws caused them to create a budget deficit.
America also has issues with the presence of Great Britain and Spain in the country. “After the Revolutionary War, the Confederation government confronted issues with Great Britain and Spain that it was powerless to resolve.” (Emory 195) Great Britain and Spain were both large trade partners with America before the war. After the war, Britain and Spain had trading posts on American land which was a direct violation of the Treaty of Paris. The Confederation Congress had the right to authorize treaties with other countries, but they could not enforce the terms of the treaty. Another issue with Great Britain was the seizure of Loyalist property during the war. Patriots seized Loyalists’ homes, farms, plantations, slaves, and businesses during the war, and Great Britain was demanding payment for their losses after the war. As far as Spain is concerned, the main issue was over the southern boundary of the United States’ right to the southern part of the Mississippi River. This greatly affected trade for Tennessee and Kentucky, and it cut the United States off from the world of commerce.
“Seven years of warfare against Great Britain had nearly bankrupted the new nation” (Emory 196)
Slaves had escaped during the war which was causing a decrease in the profit of farming and causing the southern plantations to hurt. After the war, America lost its trading privileges with Great Britain. This greatly hurt the economy because trade with Great Britain was the primary source of the American economy. The British also closed its Caribbean Island trade ports to American trade which cut off the booming market for timber, wheat, and farm products. These issues combined caused the country’s economy to plummet and the people demanded a new currency.
“There was no national currency and only a handful of banks.” (Emory 196)
People were beginning to drown in debt and were demanding a paper currency. They thought that paper currency would replace coins and be a justified reason to raise prices, therefore boosting the economy. Farmers were also upset about the decline in the economy. Farmers who had served as soldiers in the American Revolution had not received their promised pay after the war. They pressed for the printing of paper money along with other citizens. They also wanted more time to pay the land taxes they owed. In Massachusetts, these demands were ignored resulting in a revolt. Three counties took part in Shay’s Rebellion. The rebellion ended with the death of four farmers, but also resulted in a small victory for the farmers; Massachusetts eliminated some of the taxes. A decline in the economy, disgruntled citizens, inability to remove Spain and Great Britain’s presence, trade barriers, and a weak new government were some of the issues America faced as a new country.
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