The Constitution expressly denied the States the power to make anything but silver and gold a tender in payment of debts. States are required to use silver and gold only in all governmental fiscal transactions and court decisions based on the constitutional monetary standard, the “dollar”.
The declaration—“No State shall…make any Thing but gold and silver Coin a Tender” reinforced with the declaration, “No State shall…emit Bills of Credit“, which was a term of art for “paper money”, excludes all pretension that paper money is constitutional whether redeemable in some other commodity or not.
Under a Constitutional Fiscal System “We the People” as the free market control the money supply, which is constitutionally mandated in the free coinage provision. This prevents inflationary episodes and creates a stable means of exchange and a stable economy overall.