America's First Currency Note

On this day in 1775 the Continental Congress issued a paper currency later dubbed the "Continental." This currency was put in place to help the colonies finance their revolution against Great Britain. This new currency never really inspired the faith of the populous and quickly lost what little value it had to begin with. George Washington noted, "A wagonload of currency will hardly purchase a wagonload of provisions." By the end of the war the new currency had left the new nation with a sizable war debt and a shaken faith in paper currency. It was not until the dawn of the Civil War that new notes were issued.