We implore, we
beg your obedience."
[Illustration: A PETITION FROM CONGRESS TO THE STATES. Many such appeals
were issued at different times, begging the States in the Confederation
to give more power to the Central Government.]
The financial confusion was increased because of the lack of a
circulating medium. A mongrel collection of coins could be found,
passing at varying rates in the different States--English pounds,
shillings and pence, Spanish dollars, joes, half-joes, pistoles and
moidores, French guineas, carolins and chequins--but no United States
coins. Even this money was soon drawn off to Europe, because British
exporters demanded cash until the Revolutionary debts had been settled.
That this cash would return to the States was unlikely if one judged
from the first year of the peace, during which the United States
purchased 1,700,000 pounds worth of goods in England and sent in return
only 700,000 worth. In order to secure some kind of money to conduct
business, seven of the States began to issue paper money. The troubles
arising from a depreciated paper during the Revolution were neither
ignored nor forgotten; but no other method presented itself.
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