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viktelen [127]
3 years ago
6

After 1788, states had no control over

History
2 answers:
madreJ [45]3 years ago
7 0
Local Government and Education
Klio2033 [76]3 years ago
4 0

Answer:

After 1788, states had no control over  issuing legal currency.

Explanation:

From the American Revolutionary War to the entry into force of the Constitution of the United States in 1789, each of the states that made up the Union had the power to issue currency and control its internal monetary policy in the way that its leaders believed appropriate. This situation led to the fact that, within the territory of the United States and despite the issuance of Continental currency, each state had its own currency. This situation hindered internal trade, having to establish a currency exchange system and limiting the actions of the Continental Congress to control inflation, currency issuance and economic policy in general, leaving the Continental Congress in an almost symbolic role in financial matters.

Once the Founding Fathers became aware of this situation, they called a Convention to reform the Articles of Confederation and be able to resolve these problems. Finally, this Constitutional Convention ended by approving the Constitution of the United States, which centralizes in the federal government the power to issue currency and control the monetary and financial policy of the nation.

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