Legal Tender: A Study in English and American Monetary History

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University of Chicago Press, 1903 - Legal tender - 181 pages
 

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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 80 - States; 5 To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures ; 6 To provide for the punishment of counterfeiting the securities and current coin of the United 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.
Page 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...

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