Asked by
CARTER LAFAVE
on Oct 09, 2024Verified
During the 1780s, small farmers pressed for stay and tender laws because
A) political agitators, such as Daniel Shays, actively organized a national network to foment rebellion.
B) inflation and an expansion in the money supply meant they could not afford to pay for manufactured goods.
C) a shortage of hard money and higher taxes threatened many of them with foreclosures on their farms.
D) All of the above are correct.
Stay and Tender Laws
Legislative measures that prevent creditors from seizing the property of debtors and require debtors to make payment in a legal tender, typically applied during financial crises to provide relief.
Daniel Shays
A former soldier and symbolic figure of Shays' Rebellion (1786-1787), an armed uprising in Western Massachusetts protesting fiscal and civil rights injustices.
Inflation
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
- Examine the effects of fiscal and monetary strategies on the American Revolution and the nascent republic, encompassing tax legislations and reactions to economic downturns like Shays's Rebellion.
Verified Answer
PJ
Learning Objectives
- Examine the effects of fiscal and monetary strategies on the American Revolution and the nascent republic, encompassing tax legislations and reactions to economic downturns like Shays's Rebellion.