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→National debt
The peacetime Congress had to grapple with large issues, especially the national debt and the the huge western territories between the settled Atlantic seacoast and the Mississippi River.
The peacetime Congress had to grapple with large issues, especially the national debt and the the huge western territories between the settled Atlantic seacoast and the Mississippi River.
===National debt===
===National debt===
[[File:Dollar1776.jpg|thumb|1776 Continental currency|190px]]
During the war Congress printed paper money called "continentals" that soon became worthless--indeed, any worthless thing was said to be "not worth a continental."
During the war Congress printed paper money called "continentals" that soon became worthless--indeed, any worthless thing was said to be "not worth a continental."
By the end of the war the national government had foreign debts of $8 million (mostly to French and Dutch bankers), and debts to Americans amounting to $42 million. Annual interest payments were $2.5 million. The Congress had no taxing powers, and the states were reluctant to give it money. It borrowed more from Europe. The best solution was to sell land.
By the end of the war the national government had foreign debts of $8 million (mostly to French and Dutch bankers), and debts to Americans amounting to $42 million. Annual interest payments were $2.5 million. The Congress had no taxing powers, and the states were reluctant to give it money. It printed paper but the bills--called "continentals" --became worthless because of inflation. It borrowed more from Europe. The best solution was to sell land.
===Western lands===
===Western lands===