Debt.

As the American Revolution ended, financial problems were among the most pressing issues facing the new nation. Although the war had disrupted the economy, particularly those parts of it engaged in overseas trade, people still farmed and made a living, and in many respects life for many after the Treaty of Paris simply continued as it always had. The war had cost money, however, and the financial system of the new nation needed to be completely reconstructed to pay for it and to take account of independence. The Continental Congress and the states had issued bills of credit during the war to pay for expenses. These bills were like paper money and represented the governments' obligations to redeem them at some future time, for specie (gold and silver coin). They circulated among the public as dollar bills today do, although they were...