Continental Dollar

"The Continental was the name of a paper currency issued by several American Colonies, as well as by the Continental Congress, after the Revolutionary War began in 1775. With no solid backing and being easily counterfeited, the continentals quickly lost their value, giving voice to the phrase 'not worth a continental'.

..." Continental: Information and Much More from Answers.com


"... Washington faced a bookkeeping nightmare. Each state issued paper money which also circulated in neighboring states at varying rates. Then there was Continental paper currency backed by nothing but a pittance of funds in the treasury. As the Revolution dragged on, all paper money lost value — and inflation skyrocketed. Washington began his accounts with Pennsylvania money, then switched to that of New York while fighting in New England, and finally to Continental dollars. After the war, before Congress would accept his bills, Washington had to arrive at a bottom line taking into account years of devaluation and inflation. No doubt he lost money. But then his soldiers had to threaten more than one revolt just to receive any back pay — in nearly worthless paper money. Franklin, in one of his less charitable comments, called the financial chaos a tax to pay for the Revolution.
... " "Following the Money" By Carl G. Karsch