{"product_id":"the-continental-dollar-how-the-american-revolution-was-financed-with-paper-money-9780226826035","title":"The Continental Dollar: How the American Revolution Was Financed with Paper Money","description":"\u003cb\u003eAn illuminating history of America's original credit market.\u003c\/b\u003e \u003cp\u003e\u003c\/p\u003e\u003ci\u003eThe Continental Dollar\u003c\/i\u003e is a revelatory history of how the fledgling United States paid for its first war. Farley Grubb upends the common telling of this story, in which the United States printed cross-colony money, called Continentals, to serve as an early fiat currency--a currency that is not tied to a commodity like gold, but rather to a legal authority. As Grubb details, the Continental was not a fiat currency, but a \"zero-coupon bond\"--a wholly different species of money. As bond payoffs were pushed into the future, the money's value declined, killing the Continentals' viability years before the Revolutionary War would officially end. \u003cp\u003e\u003c\/p\u003e Drawing on decades of exhaustive mining of eighteenth-century records, \u003ci\u003eThe Continental Dollar\u003c\/i\u003e is an essential origin story of the early American monetary system, promising to serve as the benchmark for critical work for decades to come.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eFarley Grubb\u003c\/b\u003e is professor of economics at the University of Delaware and a research associate at the National Bureau of Economic Research.\u003cbr\u003e","brand":"University of Chicago Press","offers":[{"title":"Default Title","offer_id":50525926261010,"sku":"9780226826035","price":71.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0831\/4771\/8930\/files\/img_175b1cf7-dd6f-455a-9aef-61e983c719de.jpg?v=1731249688","url":"https:\/\/surprise-castle.myshopify.com\/products\/the-continental-dollar-how-the-american-revolution-was-financed-with-paper-money-9780226826035","provider":"Surprise Castle","version":"1.0","type":"link"}