CAS HI 321 Lecture Notes - Lecture 9: Money Supply, 6 Years, Demigod
5 May 2019
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Americans fought entire war without a legal government. When war ends in october 1781, americans celebrate: heavy fighting over after yorktown. Within 5 years, american"s hopes were going down, thought they were sliding into chaos. 1781 marks beginning of the first legal government in america: the articles government: americans had just as much instability as other new country"s government. Forgotten articles of confederation, authority rested in state government, not central government: makes sense if you think about the revolution rebelling against strong central authority, establish an authority without a strong central power. Throughout the war, the states had the right to start wars and send in armies, but they decided to let congress rule them. Key powers of taxation and commercial regulation were kept to the state and control over printing money therefore money supply during the articles government. Appointed all ranking officers to colonels, state legislature controlled the military.
