Answer:
For America's first 70 years, private entities, and not the federal government, issued paper money. Notes printed by state-chartered banks, which could be exchanged for gold and silver, were the most common form of paper currency in circulation
Explanation:
I was learning this earlier today, so I'm not sure if this is correct. But if it is I'm glad I could help, but if it's not... sorry (◞‸◟ㆀ)
<u>Answer</u>
This is a bad belief because when stiff controls are put on goods that offer competition with U.S trades, many problems will occur such as hurting of the U.S exports.
<u>Explanation</u>
When tariffs are placed on imports, tariffs will have to be placed on export too. This will result into hurting citizens in the long-run. For example, in the Smoot-Hawley Tariff Act of 1930 where president Hoover raised protective tariffs on imports so as to protect American business, the process backfired a led to more depression because other countries also increased tariffs with affected U.S exports.
Taxing exports (<span>Article I, Section 9, Clause 5 of the U.S. </span><span>Constitution). </span>