The Economical Costs
Historians attribute the revolution to the growing resentment over the heavy tax burden the British government placed on the colonists to pay for the French and Indian War (The History of American Business, 2011). Furthermore, the British levied additional taxes on the colonists to maintain the new land and allow them to get out of enormous debt. Therefore, given the debt load placed on the colonies, it is not surprising the Continental Congress borrowed money from Americans as well as from foreign governments such as France, Spain, and the Netherlands, to finance the revolution. According to the U.S. Navy, the cost of the Revolutionary War was $101 million, most of it borrowed (Daggett, 2008). As the war continued, Congress printed money, which devalued quickly and caused further hardship with the inflationary prices of goods and services. By the time the war ended, the new country suffered high unemployment and a huge public debt to pay (History Central, 2000).
Much like the wars in Iraq and Afganistan have don...
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Leland, A., & Oboroceanu, M.-J. (2010). American War and Military Operations Casualties: Lists and Statistics. Department of Defense, Congressional Research Service Report for Congress. District of Columbia: Congressional Research Service. Retrieved from http://www.fas.org/sgp/crs/natsec/RL32492.pdf
Shmoop We Speak Student. (2014, January 23). The American Revolution Summary & Analysis. Retrieved from Shmoop We Speak Studen: http://www.shmoop.com/american-revolution/summary.html
The American Revolution. (2014, January 22). The American Revolution Home. Retrieved from The American Revolution: http://theamericanrevolution.org/
The History of American Business. (2011, October 3). Revolutionary War. Retrieved from The History of American Business: http://historybusiness.org/2688-revolutionary-war.html?newsid=2688&seourl=revolutionary-war
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