Governor James Bowdoin, of the Commonwealth of Massachusetts–without legislative authority–issues a call for a 4,400 strong Militia to put down Shays’ Rebellion.  The legislature had decided to retire its war debt with lawful Money (gold and silver Coin).  Indirect taxes (imposts and excises), which were mostly paid in by Boston businesses were not enough.  Direct taxes (poll and property taxes) were passed.  The Direct taxes more disparately impacted on the cash poor/property rich western outlying counties, but the bondholders were from cash rich/property poor Boston and its vicinity.

       [added 11/22/2024] Thanks to Chuck McGlawn for this entry.

Subsequent Events:

2/4/1787                   12/12/1787

Authority:

“Law of the Jungle”
ccc-2point0.com/preface

References:

The Revolution’s Paper Money Legacy | Strike-The-Root A Journal Of Liberty.mht
www.strike-the-root.com/82/smith/smith1.html

Current U.s. National Debt:

$36,167,124,467,492

Source