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Life after the Revolution

Life after the Revolution. America in 1786. Congress has not paid the veterans of the Continental Army in 5 years The United States is about $27,000,000 in debt The U.S. has no credit to secure loans to pay it’s debt There is no national currency, rather 13 different state currencies!

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Life after the Revolution

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  1. Life after the Revolution

  2. America in 1786 • Congress has not paid the veterans of the Continental Army in 5 years • The United States is about $27,000,000 in debt • The U.S. has no credit to secure loans to pay it’s debt • There is no national currency, rather 13 different state currencies! • None of the state currencies match up either!

  3. Just How Broke We Are • The amount of money you had was dependent on what state you were in! • Imagine you were standing out on the blacktop with $1000.00 • You DO NOT add or take away any money at all • Mrs. Pike’s room = $825.93 (Virginia) • Ms. Dobler’s room = $623.48 (New York) • Mr. Hultgren’s room = $720.o0 (South Carolina) • Mr. Staten’s room = $1345! (Maryland) =P

  4. Foreclosure Crisis • Many veterans cannot afford to pay their rents or interest on their loans • Remember, Congress still hasn’t paid them • Banks start foreclosing on many farms • Sounds awful familiar doesn’t it???

  5. The Articles of Confederation • The first attempt at national government, the Articles of Confederation, were pathetically weak • Congress couldn’t raise money or impose taxes • There was no longer a Continental Army to enforce the will of Congress • Congress had to ask the states for permission to do most functions

  6. Shays’ Rebellion, 1786 • Daniel Shays, a Revolutionary War veteran, and 1000 farmers seize control of the federal arsenal in Springfield, Massachusetts • Congress, fearing Shays’ intentions, begs Massachusetts to deal with the problem • Massachusetts sends 4000 militiamen to arrest them all

  7. Jefferson’s Reaction • Jefferson believes Shays’ Rebellion is a continuation of the Revolutionary Spirit of 1776 • Democracy in action! • Go Shays! • Jefferson is 3000 miles away serving as Ambassador to France

  8. Madison’s Reaction • Shays’ Rebellion showed Madison how weak the Articles of Confederation were • Proposes a new national government under a brand new, written Constitution

  9. Consider the Following • What is debt? Is there such a thing as too much debt? What happens if you are unable to pay your debts? What could happen if a nation is unable to pay its debt?

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