A history of the United States for schools . rcome by the great exertions a new American army was col-lected in North Carolina, but the command of it, un-fortunately, was given to Gates, and, on the i6th ofAugust, Cornwallis nearly destroyed it at Camden. Itwas, p^haps, the worst defeat ever inflicted upon anAmerican army. After this, the only resistance to theBritish in South Carolina was carried on by the bravepartisan leaders, such as Marion, Sumter, and warfare of a cruel sort went on between Whigsand Tories, and robbery andmurder were frequent. 97. The Gloom
A history of the United States for schools . rcome by the great exertions a new American army was col-lected in North Carolina, but the command of it, un-fortunately, was given to Gates, and, on the i6th ofAugust, Cornwallis nearly destroyed it at Camden. Itwas, p^haps, the worst defeat ever inflicted upon anAmerican army. After this, the only resistance to theBritish in South Carolina was carried on by the bravepartisan leaders, such as Marion, Sumter, and warfare of a cruel sort went on between Whigsand Tories, and robbery andmurder were frequent. 97. The Gloomiest Timeof the War. This summerof 1780 was the gloomiesttime in the whole course ofthe war. Because Congresscould not tax the people,and could not get enoughmoney from the states byasking for it, there wasgreat difficulty in carryingon the war. Some moneywas borrowed from France and Holland, but Congress was also obliged to issue itsnotes, or promises to pay. Such notes, when issued by 1 From Headleys Washington and his Generals.^ vol. FRANCIS 236 THE REVOLUTION. Ch. XL a government, are commonly called paper money. Solong as government redeems them in gold they are asgood as money. If government suspends, or post-pones, giving gold for them on demand, their valuefalls; that is, a man will give more for a gold dollar thana paper dollar. If people believe that government will bePoor able to redeem its notes, their value falls but money. slightly ; if they cease to have such confidence,the value falls terribly. Such fluctuations in the valueof currency are very destructive to business, and alwaysproduce poverty and misery. It is probable that during
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