Charles Sumner: his complete works, volume 08 (of 20)Sumner, Charles
History
Charles Sumner: his complete works, volume 08 (of 20)
Sumner, Charles
Slavery -- United States; Speeches, addresses, etc., American
It is true that in the Constitution there are no words expressly
conferring upon Congress the power to make Treasury notes a legal
tender; but there are no words expressly conferring upon Congress the
power to issue Treasury notes. If we consult the text, we find it as
silent with regard to one as with regard to the other. There is no
silence with regard to the States, which are expressly prohibited to
“emit bills of credit,” or “make anything but gold and silver coin a
tender in payment of debts.” Treasury notes are “bills of credit”;
and this prohibition is imperative on the States. The inference is
just, that this prohibition, expressly addressed to the States, was
not intended to embrace Congress indirectly, as it obviously does not
embrace it directly. The presence of the prohibition, however, shows
that the subject was in the minds of the framers of the Constitution.
If they failed to extend it still further, it is reasonable to
conclude that they left the whole subject in all its bearings to the
sound discretion of Congress, under the ample powers intrusted to it.
The stress so constantly put upon the prohibitions addressed to the
States will justify me in introducing the opinion of Mr. Justice Story,
in his Commentaries.
“It is manifest that all these prohibitory clauses, as to
coining money, emitting bills of credit, and tendering anything
but gold and silver in payment of debts, are founded upon
the same general policy, and result from the same general
considerations. _The policy is, to provide a fixed and uniform
value throughout the United States_, by which commercial
and other dealings of the citizens, as well as the moneyed
transactions of the Government, might be regulated.”[169]
Plainly, no inference adverse to the powers of the National Government
can be drawn from these prohibitory clauses; for, whatever may be these
powers, there will be a fixed and uniform value throughout the United
States.
Public-domain text, read in full here on John Shaqi.
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