The American Revolution
Juan de Miralles
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African Americans had many reasons to fight. Some fought because they believed in the Patriot cause of freedom and liberty. Others may have joined up for the chance to earn money.
The victory at Saratoga was a turning point in the American Revolution. France and other nations now realized that the Americans might actually win their war against Great Britain. France decided to help the Americans. In February 1778, France declared war on Britain and sent money, equipment, and troops to aid the American Patriots. In 1778 Spaniard Juan de Miralles arrived in Philadelphia. He had persuaded Spain, Cuba, and Mexico to send money to the United States. Miralles became friends with many Patriot leaders and lent money to the cause. Raising funds to pay for the war was a great challenge. The Continental Congress had no power to tax. The Congress did get some money from the states and borrowed money from friendly countries such as France, Spain, and Holland. |
To meet this need, the Congress and the states simply printed hundreds of millions of dollars' worth of paper money. The paper money quickly lost its value. The face value of bills was greater than the supply of gold and silver backing them. This led to inflation.
This left the Americans with no way to finance their fight for independence.
Under the Treaty of Paris, Great Britain recognized the United States as an independent nation. The British also promised to withdraw all their troops from American territory. They gave Americans fishing rights to the waters off the coast of nearby Canada. In turn, the United States promised that Americans would pay British merchants what they owed by Canada.The treaty also stated that the Congress would advise the new states to return property taken from Loyalists
This left the Americans with no way to finance their fight for independence.
Under the Treaty of Paris, Great Britain recognized the United States as an independent nation. The British also promised to withdraw all their troops from American territory. They gave Americans fishing rights to the waters off the coast of nearby Canada. In turn, the United States promised that Americans would pay British merchants what they owed by Canada.The treaty also stated that the Congress would advise the new states to return property taken from Loyalists