Why Are Most of the U

question 6

Essay

Why are most of the U.S. dollars held outside of the United States?

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Definitions:

Paper Money

Currency made from paper as opposed to metal coins, officially issued by the government as legal tender.

Webster-Hayne Debate

U.S. Senate debate of January 1830 between Daniel Webster of Massachusetts and Robert Hayne of South Carolina over nullification and states’ rights.

Federal Government

The national government of a federation, which holds authority over the entire territory of the federation, managing affairs that affect the country as a whole.

Nullify

To legally invalidate or render void an action, law, or agreement.