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"Money": Legal History

“Metals are well calculated for this sign, because they are durable and are capable of many subdivisions: and a precious metal is still better calculated for this purpose, because it is the most portable. A metal is also the most proper for a common measure, because it can easily be reduced to the same standard in all nations: and every particular nation fixes on it it’s own impression, that the weight and standard (wherein consists the intrinsic value) may both be known by inspection only.”William Blackstone, Commentaries on the Laws of England (Amer. ed., 4 vols. & App., 1771-1773).

Blackstone Common Law

The Monetary Powers and Disabilities in the Pre-Constitutional Period

As a Rule of Constitutional Construction: The first step towards elucidating the true meaning of the Constitution’s monetary provisions is not to consult decisions of...
National Money Unit of the United States

Adoption of the “Dollar” as the “Money Unit” Prior to the Ratification of the...

The Constitutional "Dollar"Both Article 1, Section 9, Clause 1 and the Seventh Amendment to the Constitution refer explicitly to the “dollar”—in the one case,...
Bills of Credit

“Bills of Credit”: Outlawed by the Constitution

"Bills of Credit": Outlawed by the ConstitutionIn the the Federal Convention of 1787, the initial draft of the Constitution reported by the Committee of...
Mint Report 1791

Report on the Subject of a Mint 1791

Alexander Hamilton's Mint Report (1791)In his Report, Hamilton urged Congress to adopt silver and gold as the nation’s monetary substances, at an exchange ratio...
Mint Act of 1792

Coinage Act of 1792

Coinage Act of 1792In this Act, Congress followed common-law tradition by continuing the use of silver, gold, and copper as “Money”. It reiterated the judgment...
Lincoln Greenback

The Civil War and “Bills of Credit”

The Civil War and “Bills of Credit”“The immediate aftermath of the Civil War was a time of unprecedented legal flux, during which new doctrines...
Inflation

Inflation: Congress’s Constitutional Powers and Disabilities

Inflation: Congress's Constitutional Powers and DisabilitiesMore important than the constitutional power of Congress to end inflation is its constitutional duty to do so—or, put...
To regulate Value

“To regulate Value”

“To * * * regulate * * * Value ” and the cognate power “To * * * fix the standard of Weights and...
coin money

“To coin Money”

The power “To coin Money”Article I, Section 8, Clause 5 sets out the sole, express grant of power in the Constitution to bring "Money"...
Legal Tender

The Power to Declare “Money” a Legal Tender

The following analysis is an excerpt fromTO REGULATE THE VALUE OF MONEY:AN ANALYSIS OF THE POWER OF GOVERNMENT TO CREATE AND SET A VALUE ON...
"well regulated Militia" 2nd Amendment

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