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
“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...
“War”: The Constitutional Meaning
"War": The Constitutional MeaningConstitutionally speaking, "War" is a specific set of legal relations between two or more independent nations. Therefore no "War" can be...
“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...
“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 ***...
Federal Reserve System: Cartel Structure
The Federal Reserve SystemThe Federal Reserve System is a cartel that controls the United States money supply and redistributes wealth with the blessings of...