THE AMERICAN REVOLUTION 1775 1783
AMERICAN REVOLUTION SOCIAL AND ECONOMIC IMPACT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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British taxes were too high, and colonists couldn’t afford them
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the congress did not have the power to tax
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the British were charging more money for manufactured goods
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the congress spent all of their money on a giant, inflatable water slide
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Detailed explanation-1: -Answer and Explanation: The Continental Congress had difficulty raising money because the revolutionary United States had no credit on the world stage (hindering the likelihood a foreign power would loan the congress money) and had no authority to force the states to pay taxes.
Detailed explanation-2: -Critical shortages of arms and ammunition, clothing, shelter, and camp equipment persisted in spite of repeated appeals to political authorities and the local population; food rations for both man and beast were unpredictable. The Continental Congress’s efforts to equip and feed its army were inadequate from the start.
Detailed explanation-3: -By the spring of 1775, colonial leaders, concerned by British martial law in Boston and increasing constraints on trade, had led their forces in battle against the crown. But, the American revolutionaries encountered a small problem on their way to the front: they lacked the funds necessary to wage a prolonged war.
Detailed explanation-4: -It was this lack of being able to raise revenue that caused Congress to decide on a paper-based currency for their use.
Detailed explanation-5: -In order to pay for its significant expenditures during the Revolution, Congress had two options: print more money or obtain loans to meet the budget deficit. In practice it did both, but relied more on the printing of money, which led to hyperinflation.