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Debt Relief – Insolvency – Bankruptcy Information » Debt Relief » What can you tell me about debt relief during and after the American Revolution?

What can you tell me about debt relief during and after the American Revolution?

If possible, I need to know the Who, What, When, Where, and How/Why of debt relief in 16th and 17th century America.

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One Response to "What can you tell me about debt relief during and after the American Revolution?"

  1. staisil says:
    Debt to the French in the article below.

    http://en.allexperts.com/q/U-S-History-672/American-Revolution-3.htm

    Most of the debts were incurred by the States, but were for the benefit of the entire nation. Therefore, Congress agreed that the national government would assume war debts after the war. Some considered this unfair since many states had already paid off much of their debts while others had not. However, assumption of debts helped to give credibility and authority to the new federal government. Taxes were used to pay off war debt.

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