A Resource of War the Credit of the Government Made Immediately Available His
A Resource of War the Credit of the Government Made Immediately Available His
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When we establish the value of gold and silver coin, which we have the express authority to do, we of course have the implied authority to declare that its value thus iixed by law, shall be the measure of value in all contracts, and to make it a legal tender. There is no other purpose for giving us the authority to regulate the value of the money which we are authorized to coin ; and, accordingly, Congress has declared silver coins to be a legal tender. I do not know whether that provision is i...n the law regulating the value of the gold coins. I suppose, however, that it must be so. I know that when we passed the act by which we apportioned the silver and the alloy in our silver coins, we did declare that coinage to be a legal tender for sums under five dollars. Even, however, if that were not so, it would follow necessarily, it being provided in the Constitution expressly that gold and silver may be coined by authority of Congress, and their value regulated by law, that they must necessarily be a legal tender.
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To quickly assess the difficulty of the text, read a short excerpt:
When we establish the value of gold and silver coin, which we have the express authority to do, we of course have the implied authority to declare that its value thus iixed by law, shall be the measure of value in all contracts, and to make it a legal tender. There is no other purpose for giving us the authority to regulate the value of the money which we are authorized to coin ; and, accordingly, Congress has declared silver coins to be a legal tender. I do not know whether that provision is i...n the law regulating the value of the gold coins. I suppose, however, that it must be so. I know that when we passed the act by which we apportioned the silver and the alloy in our silver coins, we did declare that coinage to be a legal tender for sums under five dollars. Even, however, if that were not so, it would follow necessarily, it being provided in the Constitution expressly that gold and silver may be coined by authority of Congress, and their value regulated by law, that they must necessarily be a legal tender.
What to read after A Resource of War the Credit of the Government Made Immediately Available His?
You can find similar books in the "Read Also" column, or choose other free books by Elbridge Gerry Spaulding to read onlineMoreLess
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