In reality, the Assembly was in no position financially to honour Harford's claims. In 1780, the new state had issued bills of exchange backed by the Lord Proprietor's confiscated property. If the Assembly were to return the land to Harford, the bills of exchange could not be redeemed. In addition, the Treaty of Paris, which brought an end to the Revolutionary War, was vague on the subject of loyalists and their property claims against the new United States of America. Seen from Harford's point of view, the American Revolution must have seemed little more than an assault on private property, whereby a new class of landowners became wealthy at the expense of the former ruling elite.