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  • 14-12-2021
  • Social Studies
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If Congress had no power to raise money, how did that affect the value of the currency it issued?

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rahaanfaisal
rahaanfaisal rahaanfaisal
  • 14-12-2021

Answer: Congress had no power to coin money, therefore each state developed its own currency. Congress was unable to regulate interstate and foreign commerce; some states refused to pay for goods they purchased from abroad. Congress was unable to impose taxes; it could only borrow money on credit.

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