ABSTRACT

The quartermaster general, who had the duty of obtaining them for the commissary department, commonly hired them from farmers, since there was no organized transportation service. Since iron was essential to the tools used by the great mass of the farmers and artisans, it became the basis of the national economy. When the money from one issue had been spent, great was the temptation to spare the taxpayer by printing a new supply. Paper money, or bills of credit, exerted a more pervasive influence on the economic life of the states than any other factor of the Revolutionary War. In June, 1775, Congress decided to form a Continental Army of 15,000 men and to provide the currency both for paying the officers and troops and for purchasing needed supplies. Yet the war remained to be won and the needs of the army were great. All revenue factors worked together to give birth to a new financial program.