The New York Provincial Congress was one of the first revolutionary bodies to outline a new inter-colonial program to finance the Revolutionary War.
On May 26, 1775, only two weeks after the Second Continental Congress met at Philadelphia, the Provincial Congress wrote to New York’s delegates that it was “clearly impossible” to raise by taxes a sum “adequate to the public service” and that it was equally certain that the existing paper money of the various states could not obtain ‘”universal circulation.” [Read more…] about Financing the Revolution: National, State & Local Currencies