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Spain's economic losses were not as great as those of the other belligerents in the American Revolutionary War. This was because Spain paid off her debts quickly and efficiently. However, Spain had nearly doubled her military spending during the war, from 454 million reales in 1778 to over 700 million reales in 1779. [ 30 ]
The American Revolution was the first of the "Atlantic Revolutions": followed most notably by the French Revolution, the Haitian Revolution, and the Latin American wars of independence. Aftershocks contributed to rebellions in Ireland, the Polish–Lithuanian Commonwealth, and the Netherlands. [231] [232] [230]
The cartoon represents the commercial status of the US during the Revolution. The American Revolution (1775–1783) inaugurated the inalienable rights of "life, liberty, and the pursuit of happiness", which emphasize individual freedom and economic entrepreneurship, and simultaneously a commitment to the political values of liberalism and ...
The panic of 1785, which lasted until 1788, ended the business boom that followed the American Revolution. The causes of the crisis lay in the overexpansion and debts incurred after the victory at Yorktown, a postwar deflation, competition in the manufacturing sector from Britain, and lack of adequate credit and a sound currency.
The Glorious Cause: The American Revolution, 1763–1789 (2nd ed.). Oxford University Press. ISBN 9780199740925. Oberholtzer, Ellis Paxson. Robert Morris, Patriot and Financier (Macmillan, 1903) online. Perkins, Edwin J. American public finance and financial services, 1700–1815 (1994). pp. 85–105 on Revolution, pp. 106–36 on postwar.
A transportation revolution was underway thanks to heavy infusions of capital from London, Paris, Boston, New York, and Philadelphia. Hundreds of local short haul lines were being consolidated to form a railroad system, that could handle long-distance shipment of farm and industrial products, as well as passengers. [ 5 ]
The American Revolutionary War (April 19, 1775 – September 3, 1783), also known as the Revolutionary War or American War of Independence, was an armed conflict that was part of the broader American Revolution, in which American Patriot forces organized as the Continental Army and commanded by George Washington defeated the British Army.
A British newspaper cartoon reacts to the repeal of the Stamp Act in 1765.. Taxes were low at the local, colonial, and imperial levels throughout the colonial era. [1] The issue that led to the Revolution was whether parliament had the right to impose taxes on the Americans when they were not represented in parliament.