USA HISTORY

Detailed explanation-1: -Under the Articles of Confederation, each state had the power to manage and print its own forms of paper currency, or money. This led to major problems because, by 1789, currency from states like Rhode Island had experienced extreme devaluation. Much of this money was worth less than its face value.

Detailed explanation-2: -Section 8 permits Congress to coin money and to regulate its value. Section 10 denies states the right to coin or to print their own money. The framers clearly intended a national monetary system based on coin and for the power to regulate that system to rest only with the federal government.

Detailed explanation-3: -There wasn’t a common currency in the Confederation era. The central government and the states each had separate money, which made trade between the states, and other countries, extremely difficult.

Detailed explanation-4: -The Articles of Confederation were adopted by the Continental Congress on November 15, 1777. This document served as the United States’ first constitution. It was in force from March 1, 1781, until 1789 when the present-day Constitution went into effect.

Detailed explanation-5: -The Articles of Confederation served as the written document that established the functions of the national government of the United States after it declared independence from Great Britain.