Class of 2012:Outline The Crisis of the 1780sEconomic CrisisOrigins in the Revolution: * Â shortage of goods resulting from the British Blockade * Â demand for supplies by the army and the militias * Â flood of paper currency resulting in inflationU.S. dollar sign compared to the Spanish dollarMost of the money ended up in the detainment of merchantsU.S.
continued to be a supplier of raw materials and an importer of fabricate products especially from Great BritainBritish merchants began a major trade with Americans *    Resulting in *    exportable goods reduced by fighting *    trade deficit rose      Left the country with little sliver walk out (currency) in circulation *             Banks insisted on re getment of old loans1784- country in deep economic mental pictureCountry was already in debt before depression *     Creditors owed more than 50 million *      Congress was not allowed to heighten taxes *     State taxed residentsState Remediesradicals previseed for regulation of the economyfarmers and debtors pressed for legal tender laws  *   would get down a paper currency at face treasure *   seven states enacted such laws *   the programs worked pretty well without problems originally feared by creditorsRhode Island To relieve the distressed1786 enacted redical currency law  the law tell the paper currency legal tender to all debts If creditors refused to lead a debt thence the currency that would be used to pay the debt can be given to a judg who can then declare the debt paidState elected high tariff barriers to curb imports and nurture domestic industries Movement toward a New National GovernementAnnapolis convening 1786 Virginian legislature invited all states to appoint delegates to a convening *   xii delegates from five states attendedPassed a resolution requesting Confederation Congress call on all states to send delegates to a national convention that they might render the constitution of the...If you want to get a full essay, order it on our website: Ordercustompaper.com
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