legal tender act
Financial Burdens'Paying for the war was a difficult task. Congress had limited resources. With no power to tax, Congress had to plead with the states for money. However, the states had little money themselves.To pay and supply troop, Congress printed continentals, paper money. But the more money Congress printed, the less the money was worth. By the end of the war, paper money had lost almost all its value. Something worthless was said to be "not worth a continental."'
Congress has several limitations. Three of those limitations are that they cannot enact new taxes on their own, they cannot place taxes on items being exported from any state, and they cannot draw money from the United States Treasury at will.
the printing of paper money by Congress and the states
The Congress
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Congress cannot pass any laws about marriage. Congress, itself, is not allowed to tax people. They can't borrow money, either.
money issued by each colony was backed by real wealth.
State governments cannot declare war or issue their own money.
State governments cannot declare war or issue their own money.
legal tender act
legal tender act
Financial Burdens'Paying for the war was a difficult task. Congress had limited resources. With no power to tax, Congress had to plead with the states for money. However, the states had little money themselves.To pay and supply troop, Congress printed continentals, paper money. But the more money Congress printed, the less the money was worth. By the end of the war, paper money had lost almost all its value. Something worthless was said to be "not worth a continental."'
Congress has several limitations. Three of those limitations are that they cannot enact new taxes on their own, they cannot place taxes on items being exported from any state, and they cannot draw money from the United States Treasury at will.
yes money can be printed by congress
Paper money, whose issue was authorized by the Union Congress in February 1862. They were called greenbacks because of their colors. commodity money used by the union during the civil war
Taxes. That is where all governments in America get there money. Along with taxes they get money from the general fees, and fines to the public. Examples are, marriage licenses, (you have to pay for all licenses you get from the gov't) hunting licenses, illegal parking fees, speeding tickets, and general court fees.