The legal tender cases

posted by
September 25, 2011
Future of Freedom Foundation
by Jacob G. Hornberger  
Posted in Commentary

"Why limit the powers? Because people were deeply concerned that this new government would end up infringing upon their freedom and their well-being. What were the constitutional provisions regarding monetary issues? The federal government was given the power to coin money and regulate the value thereof. It was also given the power to tax and borrow. The list of enumerated powers did not include the power to issue paper money ('bills of credit') or the power to enact legal-tender laws." (09/23/11)  

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