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Formation of the Union, 1750-1829 by Albert Bushnell Hart
page 114 of 305 (37%)

Every device that the government could put into operation for raising
money was eventually tried. A lottery brought considerable sums into the
treasury, the supplies for the army were seized at Valley Forge and
elsewhere, and paid for in certificates. Bills were drawn on foreign
ministers for funds which it was hoped they might have in hand by the time
the bills reached them, and the government bought, and sent abroad to meet
its indebtedness, cargoes of tobacco and other products.

[Sidenote: Speculation.]

The financial burdens of the government were increased by a spirit of
extravagance, speculation, and even of corruption. Washington wrote,
"Unless extortion, forestalling, and other practices which have ... become
exceedingly prevalent can meet with proper checks, we must inevitably sink
under such a load of accumulated oppressions." The whole cost of the war
is estimated at one hundred and thirty-five millions. Of this about one
hundred millions had been raised through the Continental bills and other
devices. About thirty-five millions remained as a national debt.


44. INTERNAL DIFFICULTIES (1775-1782).


[Sidenote: Weakness of Congress.]

That Congress was able to make no better provision for the finances was
due to a decline in its prestige rather than to a lack of interest in the
war. Some of the ablest members were drawn into military service, or sent
on foreign missions. The committee system made it inefficient, and it was
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