English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

How much did America, Great Britian, France each pay, in dollars for their part in the American Revolutionary War. I would like to know the answer soon because I need the answer for a project due THURSDAY OCT 18.

2007-10-16 10:41:36 · 1 answers · asked by jetsjaymeyankees 2 in Education & Reference Homework Help

1 answers

Financial costs
The British spent about £80 ($10.5) million and ended with a national debt of £250 ($32.8) million, which it easily financed at about £9.5 ($1.25) million a year in interest. The French spent 1.3 billion livres (about $113 million). Their total national debt was ($20) million, which they could not easily finance; over half the French national revenue went to debt service in the 1780s. The debt crisis became a major enabling factor of the French Revolution as the government was unable to raise taxes without public approval.[20] The United States spent $37 million at the national level plus $114 million by the states. This was mostly covered by loans from France and the Netherlands, loans from Americans, and issuance of more and more paper money (which became "not worth a continental.") The U.S. finally solved its debt problem in the 1790s.[21]

Currency calculations are based on today's exchange rate.

2007-10-16 10:53:02 · answer #1 · answered by Max 7 · 0 0

fedest.com, questions and answers