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adopted argument authority banks bills bills of credit bond carry circulation claimed clause coin coin money common conferred Congress Constitution contracts convention Court created currency debts decision defendant demand discharge dollars duty effect England entirely equal establish exchange execution exercise existence express fact Federal give given gold and silver Government granted ground Honors impair intended interest issue Judge judgment judicial Justice lawful money learned legal tender legal tender notes legislative Legislature limited maintain means measure medium ment metallic nation necessary necessity never object obligation operation opinion paper money parties pass payment plaintiffs present prohibited proper proposition question receive redeem redemption reference regard regulate relation represent respect securities sovereign sovereignty specie stitution submit thing tion treasury notes trust uniform Union United whole York
Page 140 - We admit, as all must admit, that the powers of the government are limited, and that its limits are not to be transcended. But we think the sound construction of the constitution must allow to the national legislature that discretion, with respect to the means by which the powers it confers are to be carried into execution, which will enable that body to perform the high duties assigned to it, in the manner most beneficial to the people.
Page 75 - KNOW YE, That we, the undersigned delegates, by virtue of the power and authority to us given for that purpose, do, by these presents, in the name, and in behalf, of our respective constituents, fully and entirely ratify and confirm each and every of the said Articles of Confederation and Perpetual Union, and all and singular the matters and things therein contained.
Page 140 - To have prescribed the means by which government should, in all future time, execute its powers, would have been to change, entirely, the character of the instrument, and give it the properties of a legal code. It would have been an unwise attempt to provide, by immutable rules, for exigencies which, if foreseen at all, must have been seen dimly, and which can be best provided for as they occur.
Page 39 - Mr. Madison — Will it not be sufficient to prohibit the making them a tender? This will remove the temptation to emit them with unjust views; and promissory notes in that shape may, in some emergencies, be best.
Page 208 - Congress the power to coerce a State into submission which is attempting to withdraw or has actually withdrawn from the Confederacy? If answered in the affirmative, it must be on the principle that the power has been conferred upon Congress to declare and to make war against a State.
Page 40 - Mr BUTLER, remarked that paper was a legal tender in no Country in Europe. He was urgent for disarming the Government of such a power. Mr MASON was still averse to tying the hands of the Legislature altogether. If there was no example in Europe as just remarked, it might be observed on the other side, that there was none in which the Government was restrained on this head. Mr READ, thought the words, if not struck out, would be as alarming as the mark of the Beast in Revelations. Mr LANGDON had rather...
Page 170 - Constitution has intrusted Congress, exclusively, with the power of creating and regulating a currency of that description ; and the measures which were taken during the last session, in execution of the power, give every promise of success. The Bank of the United States has been organized under auspices the most favorable, and cannot fail to be an important auxiliary to those measures.
Page 75 - And Whereas it hath pleased the Great Governor of the World to incline the hearts of the legislatures we respectively represent in congress, to approve of, and to authorize us to ratify the said articles of confederation and perpetual union.
Page 39 - Mr. Ellsworth thought this a favorable moment to shut and bar the door against paper money. The mischiefs of the various experiments which had been made were now fresh in the public mind and had excited the disgust of all the respectable part of America. By withholding the power from the new government, more friends of influence would be gained to it than by almost anything else. Paper money can in no case be necessary. Give the government credit and other resources will offer. The power may do harm,...