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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
Page 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...
Page 119 - ... and such notes herein authorized shall be receivable in payment of all taxes, internal duties, excises, debts, and demands of every kind due to the United States, except duties on imports, and of all claims and demands against the United States of every kind whatsoever, except for interest upon bonds and notes, which shall be paid in coin, and shall also be lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest...
Page 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.
Page 139 - An act to provide a national currency secured by a pledge of United States bonds, and to provide for the circulation and redemption thereof,
Page 78 - ... altogether. If there was no example in Europe, as just remarked, it might be observed, on the other side, that there was none in which the Government was restrained on this head. Mr.
Page 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.
Page 16 - A State shall not coin money, nor make anything but gold and silver coin a legal tender in payment of debts.
Page 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.