A money of account served no purpose in a monometallic system; but in a bimetallic system the device was used to adjust the legal ratio between silver and gold coins to the free market exchange ratio between the metals, by “crying the currency up or down”—that is by increasing or decreasing the values of real coins in terms of the money of account.
Related Topics
“Gun Control”
"Gun Control"In the pre-constitutional period, had the term been current, “gun control” would have meant, not keeping firearms and ammunition away from as many...
“Factions” or “Special Interest” Groups
"Factions" or "Special Interest" GroupsAmerica’s Founding Fathers denounced “factions” (what we refer to today as “special interests”) because these groups consist of “a number of citizens,...
“Living” Constitution
As a constitutional rule of construction that cannot be repeated to often, “If *** we are at liberty to give old words new meanings ***...
“Aggregate Powers”
“Aggregate Powers”: Powers Cobbled Together and Exercised by Rogue Government Officials That are Not Enumerated in the ConstitutionTypically, when aspiring usurpers and tyrants cannot rationalize...
“Emergency Powers”
"Emergency Powers"The real "emergency" that confronts Americans is the lust of aspiring and conspiring usurpers and tyrants for power WE THE PEOPLE have withheld...