Week 27 pg. 114

What was one of the main financial challenges faced by the colonies during the American Revolution?

• Abundance of resources

• Lack of organized departments

• Surplus of money

• Low taxes

Who helped the United States secure loans from France during the American Revolution?

• George Washington

• Thomas Jefferson

• Benjamin Franklin

• John Adams

By what year did Congress have an organized way to tax people?

• 1776

• 1787

• 1789

• 1791

What role did Alexander Hamilton play after the Constitution was written?

• Secretary of Defense

• Secretary of the Treasury

• President

• Vice President

What was one of the consequences of the end of the Revolutionary War regarding finances?

• Surplus of money

• Organized financial system

• Mess of bills, taxes, debts, and programs

• Decrease in taxes

What did Congress do to help pay off the bills after the Revolutionary War?

• Printed more money

• Levied taxes

• Reduced taxes

• Ignored the debt

What was the value of the Continental Currency shown in the image?

• One-third of a dollar

• Half a dollar

• One dollar

• Two dollars

What was a major issue with the Continental Currency after the Revolutionary War?

• It was too valuable

• It was counterfeit

• It was made of gold

• It was easy to use

Which country did John Adams secure loans from during the American Revolution?

• Spain

• Germany

• The Netherlands (Dutch)

• Italy

What was one of the methods used by Congress to manage war expenses?

• Increasing exports

• Printing more money

• Reducing military size

• Selling land