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action amount argument authorized banks became bestowed bills bills of credit called cent charter circulation claimed coinage colonies committee Commons condition Congress consent constitution contracts court creditor Crown currency debts December decision demand denominations discussion dollar duties Edward effect England English exercise existing expressly fact February federal foreign given gold coins grains granted Henry History House Ibid import interest issue January July June Justice king legal tender legal-tender legislation less limited March Massachusetts means measures medium ment metal method necessary obligation opinion paid Parliament passed payment period pound present prohibition proposed provision question receivable reduced reference regulate resolution result RUDING secretary seems Senate Sess shillings silver coins specie standard Statutes at Large tion transactions treasury notes United weight
Página 68 - The United States in Congress assembled shall also have the sole and exclusive right and power of regulating the alloy and value of coin struck by their own authority, or by that of the respective states...
Página 134 - The power, as incident to the power of borrowing money and issuing bills or notes of the Government for money borrowed, of impressing upon those bills or notes the quality of being a legal tender for the payment of private debts, was a power universally understood to belong to sovereignty, in Europe and America, at the time of the framing and adoption of the Constitution of the United States.
Página 141 - ... at par in all parts of the United States in payment of taxes, excises, public lands, and all other dues to the United States, except for duties on imports ; and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations within the United States, except interest on the public debt, and in redemption of the national currency.
Página 16 - A State shall not coin money, nor make anything but gold and silver coin a legal tender in payment of debts.
Página 78 - It will have a most salutary influence on the credit of the United States to remove the possibility of paper money. This expedient can never succeed while its mischiefs are remembered. And as long as it can be resorted to, it will be a bar to other resources.
Página 76 - ... nor keep troops or ships of war in time of peace; nor enter into any agreement or compact with another state, or with any foreign power; nor engage in any war, unless it shall be actually...
Página 134 - It is equally well settled that Congress has the power to incorporate national banks, with the capacity, for their own profit as well as for the use of the government in its money transactions, of issuing bills which under ordinary circumstances pass from hand to hand as money at their nominal value, and which, when so current, the law has always recognized as a good tender in payment of money debts, unless specifically objected to at the time of the tender.
Página 77 - Mr. Mercer was a friend to paper money, though in the present state and temper of America, he should neither propose nor approve of such a measure. He was consequently opposed to a prohibition of it altogether.
Página 84 - ... of it. But, sir, a majority of the convention, being wise beyond every event, and being willing to risk any political evil rather than admit the idea of a paper emission in any possible case, refused to trust this authority to a government to which they were lavishing the most unlimited powers of taxation, and to the mercy of which they were willing blindly to trust the liberty and property of the citizens of every State in the Union ; and they erased that clause from the system.