What happened to the bonds issued American citizens by Americn government dueing revolutionary war?

During the American Revolutionary War, the Continental Congress issued bonds to finance the war effort. These bonds were essentially loans from citizens and foreign governments to the United States. The bonds were promised to be repaid with interest after the war. However, due to the precarious financial situation of the new country, many of these bonds were not fully repaid or were not repaid at all.

Many of the soldiers and people who owned the bonds were never able to receive full payment for their investment, despite promises from the government that they would be compensated for their service. It was not until 1790, when Secretary of the Treasury Alexander Hamilton implemented the assumption of state debt, that the federal government accepted responsibility for the outstanding debt.

The assumption of state debt was controversial at the time, as it transferred a significant amount of debt from the states to the federal government, increasing the federal government's debt burden and requiring additional taxation. Despite this, the assumption of state debt was ultimately seen as necessary to establish the creditworthiness of the federal government and to stabilize the country's financial situation.

Ultimately, it took decades for the United States to fully repay the debt incurred during the Revolutionary War, and many bondholders never received full compensation for their investments.