TY  - JOUR
AU  - Grubb,Farley
TI  - State Redemption of the Continental Dollar, 1779-1790
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 17209
PY  - 2011
Y2  - July 2011
UR  - http://www.nber.org/papers/w17209
L1  - http://www.nber.org/papers/w17209.pdf
N1  - Author contact info:
Farley Grubb
University of Delaware
Economics Department
Newark, DE  19716
Tel: 302/831-1905
Fax: 302/831-6968
E-Mail: grubbf@udel.edu
AB  - Remittances of Continental Dollars to the national treasury from each state by year from 1779 through 1789 are used to determine state compliance with congressional resolutions regarding Continental-Dollar redemption. From 1781 through 1789, the states as a whole stayed well ahead of the remittance schedule set by Congress in 1779. Individual state compliance, however, varied considerably. By the time Congress changed redemption requirements with the Funding Act of 4 August 1790, a majority of the net new Continental Dollars ever emitted by Congress had already been redeemed by the states and remitted to the national treasury to be burned.
ER  -