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There was no money in circulation. Money at that time meant coins of precious metals - gold, silver or copper. Coins of many nations circulated in the colonies, and for decades after, but these were hard to come by. Coins were "hard money" and landowners had to have hard money to pay their yearly real estate taxes to the county where they lived. Most people were in debt, and they could be locked up by the county sheriff in jail if they could not pay their debts. Trade was mostly done by barter, and people would have to give extra goods to trade for actual hard money to pay their taxes, so the county would not put them off their land. The national government had no power to tax, and so was completely broke and had no money to do anything.
What else can I help you with?
Economic problems in other parts of the world have a tremendous impact on US companies?
True
What development allowed the American economy to be affected by economic problems in other regions of the world?
Globalization
What do the economic systems of other countries have in common with the economic system of the US?
They face the same basic economic problems
Will economic problems ever disappear and if so why?
Scarcity is a fact of the universe. In other words, there's never enough of everything to satisfy all the needs and desires of everyone. (Unless we someday invent replicators like they have on Star Trek! In the fictional Star Trek universe scarcity no longer exists and there are no economic problems.) Because there is scarcity, there is economization. Not everyone gets to have everything they want, and economic problems will never disappear.
What is the major economic problem in russia?
The major economic problems in Russia are as a result of political instabilities among other issues. Privatization of most state firms is one of the solutions that Russia has deployed to resuscitate its economy.
What was the blame for economic and other problems in the US after the revolution?
A Weak Central Government
What was to blame for the economic and other problems in the US after the revolution?
A Weak Central Government
Do Americans hate Mexico more now?
Not particularly. When in good times, Americans tend to ignore Mexico. When in bad times, most tend to blame Mexicans for job loss and other economic problems.
What do economics systems of other countries have in common with the US?
They face the same basic economic problems
Which term describes the tendency to find a group other than one's own to blame for social problems?
scapegoating
Which term describes the tendency to find a group other than ones own to blame for social problems?
Scapegoating
What term describes the tendency to find a group other than ones own to blame for social problems?
Scapegoating
What do the economics systems in other countries have in common with the economic system of the us?
They face the same basic economic problems
Other countries could not repay their debts to the US because?
they had their own economic problems
Economic problems in other parts of the world have a tremendous impact on US companies?
True
What development allowed the American economy to be affected by economic problems in other regions of the world?
Globalization
What other countries have screen doors besides America?
Australia and other countries that have highish economic levels and problems with insects.
