The Monkees most lucrative venture the three had ever seen in their days as the Monkees, far surpassing the money they had made in the 1960s. Nesmith had little financial need to join in Monkees-related projects, mostly as his mother Bette Nesmith Graham was the inventor of Liquid Paper, leaving Nesmith an inheritance of over $25 million upon her death in 1980. A new album by the touring trio, "Pool It!" (the Monkees' tenth), appeared the following year and was a moderate success. From 1986 to 1989, the Monkees would conduct major concert tours in the United States, Australia, Japan, and Europe.
Michael Nesmith as an appearance by singer, musician, and songwriter José Feliciano on congas. The album, "Tantamount to Treason Vol. 1", was a commercial and critical disaster. Nesmith then recorded "And the Hits Just Keep on Comin'", featuring only him on guitar and Red Rhodes on pedal steel. Nesmith became more heavily involved in producing, working on Iain Matthews's album "Valley Hi" and Bert Jansch's "L.A. Turnaround". Nesmith was given a label of his own, Countryside, through Elektra Records, as Elektra's Jac Holzman was a fan of Nesmith. It featured a number of artists produced by Nesmith, including Garland Frady and Red