The writings of George Washington; being his correspondence, addresses, messages, and other papers, official and private, selected and published from the original manuscripts; with a life of the author, notes and illustrations. By Jared Sparks.

332 LIFE OF WASHING.TON. [1780.
sequences, was the depreciation of the currency. Destitute of pecuniary resources, and without the power
of imposing direct taxes, Congress had, early in the
war, resorted to the expedient of paper money. For
a time, while the quantity was comparatively small, its
credit was good; but in March, 1780, the enormous
amount of two hundred millions of dollars had been
issued, no part of which had been redeemed. At this
time forty paper dollars were worth only one in specie.
Prices rose as the money sank in value, and every
branch of trade was unsettled and deranged. The
effect was peculiarly oppressive on the troops, and was
a principal reason for the exorbitant bounties allowed
to them in the latter years of the war. The separate
States likewise issued paper money, which increased
the evil, without affording any adequate relief. The
only remedy was taxation; but this was seldom pursued
with vigor, owing, in part, to the distracted state of the
times and the exhausted condition of the country, and
in part also to State jealousy. As each State felt its
burdens to be heavy, it was cautious how it added to
them in a greater proportion than its neighbours; and
thus all were reluctant to act, till impelled by the
pressure of necessity.
So low had the credit of the currency fallen, that
the commissaries found it extremely difficult, and in
some cases impossible, to purchase supplies for the
army. Congress adopted a new method, by requiring
each State to furnish a certain quantity of beef, pork,
flour, corn, forage, and other articles, which were to
be deposited in such places as the Commander-inchief should determine. The States were to be credited for the amount at a fixed valuation in specie. The
system turned out to be impracticable. The multitude
of hands into which the business was thrown, the