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Dutch Bankers and Early American Credit - The Tontine Coffee-House

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The early diplomatic history of the United States, before the War of Independence even came to a close, revolved around securing recognition from other countries and raising money from their governments, bankers, or investors. Of course, London’s financial markets were off limits until the peace treaty of 1783 and France, while the provider of initial financial backing, had its own limited fiscal capacity which was generally weakening with time. So, the early United States turned to the Netherlands, whose bankers and investors warmly welcomed early American borrowings abroad.             The standing of American credit was not good in the early-1780s. The country was plagued by the myriad of depreciated currencies issued by various states and a shortage of precious metal specie with which to repay foreign loans. Paper dollars were worth just 1/40th of their purported value in specie by 1780. There was no national bank able to facilitate loans for the government. The federal government

The early diplomatic history of the United States, before the War of Independence even came to a close, revolved around securing recognition from other countries and raising money from their governments, bankers, or investors. Of course, London’s financial markets were off limits until the peace treaty of 1783 and France, while the provider of initial financial backing, had its own limited fiscal capacity which was generally weakening with time. So, the early United States turned to the Netherlands, whose bankers and investors warmly welcomed early American borrowings abroad. American…

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