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FINANCE.

Under this subject are grouped the statutes relating to loans and other interestbearing obligations, the subtreasury system, the status of foreign coins, and other statutes not relating specifically to banking, paper money, or coinage.

ARTICLES OF CONFEDERATION OF JULY 9, 1778.

ARTICLE 9.

SEC. 5. The United States, in Congress assembled, shall have authority to borrow money or emit bills on the credit of the United States, transmitting every half year to the respective States an account of the sums of money so borrowed or emitted;

SEC. 6. The United States, in Congress assembled, shall never engage in a war, nor coin money, nor regulate the value thereof, * nor emit bills, nor borrow money on the credit of the United States, unless nine States assent to the same,

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ARTICLE 12.

All bills of credit emitted, moneys borrowed, and debts contracted by or under the authority of Congress, before the assembling of the United States, in pursuance of the present confederation, shall be deemed and considered as a charge against the United States, for payment and satisfaction whereof the said United States and the public faith are hereby solemnly pledged.

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1 Stat. L., 7.

1 Stat. L., 8.

1 Stat. L., 8.

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