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Why did the framers explicitly grant the powers of currency borrowing and bankruptcy to congress?
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Why was paying for the war hard for the Continental Congress?
The Continental Congress didn't have the power to tax; therefore, the currency it distributed had mass inflation and relied on private donations and loans from France.
What did Congress pass in 1862 that created a national currency and allowed the government to issue paper money?
legal tender act
Why did the continental congress have difficulty raising money?
The Congress negotiated with foreign nations, established a postal system, borrowed money to support the army, and printed currency known as "continentals." However, the government's poor finances led to the expression "not worth a continental." Since the Continental Congress lacked any formal constitution,
How do they pick which presidents appear on US currency?
The people shown on our currency have been there for almost 100 years. They were chosen because they had a connection with currency in the case of Hamilton. The others were popular Presidents plus Ben Franklin, who is an icon. The currency has been up-dated but the people have not been changed.
Coining and printing money are the responsibilities of the Treasury Department?
No, The Bureau of Engraving and Printing (BEP) produces currency and stamps, and the U.S. Mint produces our nation's coins.
