Because the Continental Congress was unable to levy taxes to pay for the war, it relied on the printing press to issue nearly $250 million in paper money (the so-called Continental). The paper money was backed only by the good faith of the Congress; because of dislocations in trade and manufacturing, there was too much money competing for too few goods. The result was uncontrolled inflation. In early 1780, the Congress confessed that its money was worthless (something the people had known long before as evidenced in their popular saying "not worth a Continental").