Commander-in-Chief George Washington, of the Continental Army, writes to one of his former aides-de-camp Lieutenant Colonel John Laurens: “Experience has demonstrated the impracticability long to maintain a paper credit without funds for its redemption.”

       [added 11/17/2024]

Subsequent Events:

References:

The Federal Reserve and you
endthefednc.wordpress.com/

Current U.s. National Debt:

$36,167,124,467,492

Source