Financial History 1751-1775.
During the French and Indian war paper money was issued in large quantities but provision was made for its redemption in accordance with the Act of Parliament in 1751, and an earnest attempt was made to meet the obligations thus incurred.
The period from 1751 to 1775 was really a period of war financiering, for the debt incurred for war purpose was not extinguished until the beginning of the Revolution, and we shall treat it as a whole.
The sources of revenue were loans, bills of credit, treasury notes, grants made by the English government, and taxes.