Question: What are the notes issued by the monetary policy maker in the country America was called after the Revolutionary War?

The U.S. Constitution provides that Congress shall have the power to "borrow money on the credit of the United States". Congress has exercised that power by authorizing Federal Reserve Banks to issue Federal Reserve Notes. Federal Reserve Notes are designated by law as "legal tender" for the payment of debts. Congress has also authorized the issuance of more than 10 other types of banknotes, including the United States Note and the Federal Reserve Bank Note. Those notes are "obligations of the United States" and "shall be redeemed in lawful money on demand at the Treasury Department of the United States, in the city of Washington, District of Columbia, or at any Federal Reserve bank". The Federal Reserve Note is the only type that remains in circulation since the 1970s. <SEP> Monetary policy concerns the actions of a central bank or other regulatory authorities that determine the size and rate of growth of the money supply. For example, in the United States, the Federal Reserve is in charge of monetary policy, and implements it primarily by performing operations that influence short - term interest rates. <SEP> in 1970 the country switched its currency from the bermudian pound to the bermudian dollar, which is pegged at par with the us dollar. us notes and coins are used interchangeably with bermudian notes and coins within the islands for most practical purposes; however, banks levy an exchange rate fee for the purchase of us dollars with bermudian dollars. bermudian notes carry the image of queen elizabeth ii. the bermuda monetary authority is the issuing authority for all banknotes and coins, and regulates financial institutions. the royal naval dockyard museum holds a permanent exhibition of bermuda notes and coins. <SEP> In sharp contrast, Congress and the American states had no end of difficulty financing the war. Not until 1781 did the national government have a strong leader in financial matters, when Robert Morris was named Superintendent of Finance of the United States. In 1775, there was at most 12 million dollars in gold in the colonies, not nearly enough to cover current transactions, let alone finance a major war. The British made the situation much worse by imposing a tight blockade on every American port, which cut off almost all imports and exports. One partial solution was to rely on volunteer support from militiamen and donations from patriotic citizens. Another was to delay actual payments, pay soldiers and suppliers in depreciated currency, and promise that it would be made good after the war. Indeed, the soldiers and officers were given land grants in 1783 to cover the wages that they had earned but had not been paid during the war. <SEP> beginning the age of revolution, the american revolution and the ensuing political upheaval during the last half of the 18th century saw the thirteen colonies of north america overthrow the governance of the parliament of great britain, and then reject the british monarchy itself to become the sovereign united states of america. in this period the colonies first rejected the authority of the parliament to govern them without representation, and formed self-governing independent states. the second continental congress then joined together against the british to defend that self-governance in the armed conflict from 1775 to 1783 known as the american revolutionary war (also called american war of independence).