Final answer:
The weakness of the monetary policy under the Articles of Confederation can be attributed to several factors, including fiscal problems, the issuance of banknotes by state banks, and economic difficulties faced by the states.
Step-by-step explanation:
The weakness of the monetary policy under the Articles of Confederation can be attributed to several factors. Firstly, the central government had fiscal problems, which resulted in the currency it issued, called the Continental, being largely worthless. Additionally, although the national government had the power to coin money, the states were not prohibited from doing so as well. This led to the issuance of banknotes by numerous state banks, which suffered from the same problems as the Continental currency.
The reputation of the state banks' banknotes was often unknown to people, causing them to be hesitant in accepting these notes as currency. Furthermore, the economic difficulties faced by the states, including overwhelming debts, further weakened the young nation's economy. This combination of factors crippled the effectiveness and value of the monetary policy under the Articles of Confederation.