History Essay

The Articles of Confederation is a grueling and difficult battle . For almost sixteen months politicians of various states debate about its ratification . For several months , the condition in Virginia is bleak because of the bickering over land claims , and then my beloved state decided to cede for the reason that the surrendered Western lands will be equally distributed . The ratification of Articles of Confederation has its own advantages and disadvantages

The major advantage of the ratification is that it landscaped a new America because for the first time in history someone has

made a constitution that will bind a nation . The ratification paved the way for American Revolution because the government was transformed to new heights . At the onset , American is ruled by the king , and because of the Articles of Confederation the sovereignty was centralized to American states . But the article failed in actualizing its aim , which served as an impetus for redefinition of America wherein the people became sovereign . And because of that leap from of sovereignty King to American people , the ratification in a way became meaningful

But the disadvantages of such ratification are so prominent that it can never be forgotten . Under the Articles of Confederation , Congress did not possess an income independent of the states . Instead , the power to tax remained with the state governments and the federal government had to raise money through requisitions on the states . When the conflict with Britain created a demand for money , however , Congress did not at first ask the states to tax their citizens

As with the money , the certificate loan gave Congress purchasing power although it did not control any source of specie income . The major part of the debt cannot be regarded as a voluntary contribution to Congress . Merchants bonds to currency and soldiers them to nothing at all . But both groups would much rather have been paid in gold or silver . Their skepticism soon proved well founded . Even when the debt was revalued in to correspond to specie value certificates depreciated fast as there was universal doubt that Congress would ever be able to redeem them . Loan certificates traded at twenty to twenty-five cents on the dollar from the end of the war to the ratification of the Constitution , whereas final settlement certificates went for ten to fifteen cents on the dollar . They avoided the fate of the currency solely because it was hoped that the Articles of Confederation would be amended so as to provide Congress with a hard money income , thereby allowing for interest payments in specie , or else that the state governments would accept responsibility for the debt . As with the currency , the loan certificate debt was a measure that could not be repeated . Given the choice , no one would subscribe to a loan floated by the federal government if it had no guarantee of payment other than Congress 's word . This claim does not rest on mere conjecture In October 1786 , Congress tried to borrow 500 ,000...