#Irredeemable paper money.# The most notable examples of paper money in the eighteenth century were the American colonial currencies, the continental notes, and the French assignats.

In all the American colonies before the Revolution, notes or bills of credit were issued which were in most cases legal tender.

Parliament forbade the issues, but to no effect.

Without exception they were issued in large amounts and without exception they depreciated.

The continental notes were issued by the Continental Congress in the first year of the war (1775), and for the next five years.