Eleanor Finch
The United States Constitution contains seven clauses that touch on monetary policy. Four of these clauses include the word 'money', three the word 'coin', and two the word 'dollars'. The first six of these clauses are part of the original US Constitution, which was ratified in 1788. The seventh clause, found in the Seventh Amendment, is part of the Bill of Rights, which was ratified in 1791. These clauses together form a system of rules that strongly protects economic prosperity and political liberty.
| Characteristics | Values |
|---|---|
| Number of clauses | 7 |
| Number of clauses that include the word 'money' | 4 |
| Number of clauses that include the word 'coin' | 3 |
| Number of clauses that include the word 'dollars' | 2 |
| Power to borrow money | Congress |
| Power to coin money | Congress |
| Power to regulate the value of money | Congress |
| Power to regulate the value of foreign coin | Congress |
| Power to fix the standard of weights and measures | Congress |
| Power to provide for the punishment of counterfeiting the securities and current coin of the United States | Congress |
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What You'll Learn
Congress's power to borrow money
The United States Constitution contains seven clauses that touch on monetary policy. Four of these clauses include the word 'money', three the word 'coin', and two the word 'dollars'. One of these clauses states that 'Congress shall have power to borrow money on the credit of the United States'. This clause, known as Art. I, sec. 8, cl. 2, gives Congress the authority to borrow money on behalf of the country. This power is an important aspect of the country's monetary policy and helps to ensure economic prosperity and political liberty.
The Constitution's monetary clauses are an important part of the country's financial framework. They give Congress the tools it needs to manage the country's finances and ensure economic stability. By granting Congress the power to borrow money, coin money, and punish counterfeiting, the Constitution provides a strong foundation for the country's monetary policy.
While Congress has broad powers over monetary policy, there are some limitations. For example, while Congress has the power to issue base-metal coins, such coins cannot be legal tender. This limitation is designed to ensure that the country's currency remains stable and reliable.
In conclusion, Congress's power to borrow money is an important aspect of the United States Constitution. It is one of several financial powers granted to Congress that help to ensure economic prosperity and political liberty. By giving Congress the tools it needs to manage the country's finances, the Constitution provides a strong foundation for monetary policy.
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Congress's power to coin money
The United States Constitution has seven clauses that touch on monetary policy. Four of these clauses include the word 'money, three the word 'coin, and two the word 'dollars'.
One of these clauses states that 'Congress shall have power to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures'. This means that Congress has the power to issue base-metal coins, although these cannot be legal tender. Congress also has the power to punish counterfeiting of the securities and current coin of the United States.
The Coinage Act of 1792 was passed by Congress on April 2, 1792. An Act to Provide for a Copper Coinage (whence the humble penny) was signed into law on May 8, 1792.
Some people believe that the only way to restore monetary sanity is to completely restore the republic, the Articles of Confederation and the original constitution that includes the original 13th amendment.
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Congress's power to punish counterfeiting
The United States Constitution's seven money clauses touch on monetary policy. Four of the clauses include the word 'money', three the word 'coin', and two the word 'dollars'. One of these clauses states that:
> Congress shall have power to provide for the punishment of counterfeiting the securities and current coin of the United States.
This clause has been interpreted narrowly by the Supreme Court, which has held that the language of the clause covers only the specific offence of counterfeiting, understood as the creation of forged coin, and not the separate offence of fraudulently using forged coins in transactions. This interpretation was upheld in the cases of *Fox v. Ohio* (1847) and *United States v. Marigold* (1850).
Some commentators have argued that the Counterfeiting Clause is unnecessary, as Congress would have the power to punish counterfeiters under the Necessary and Proper Clause. However, in a 1984 decision, the Supreme Court observed that Congress had relied on its counterfeiting authority to pass certain statutes that restricted the use of photographic depictions of currency.
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Monetary policy
The United States Constitution has seven clauses that touch on monetary policy. Four of the clauses include the word 'money', three the word 'coin', and two the word 'dollars'. The first six of these clauses are part of the original U.S. Constitution, which was proposed on September 17, 1787, and ratified on June 21, 1788. The seventh money clause, found in the Seventh Amendment, is part of the Bill of Rights, which was proposed on September 25, 1789, and ratified on December 15, 1791.
The seven clauses together form a system of rules that strongly protects economic prosperity and political liberty. For example, Congress has the power to borrow money on the credit of the United States, and to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures. Congress also has the power to provide for the punishment of counterfeiting the securities and current coin of the United States.
Some argue that the only way to restore monetary sanity is to completely restore the republic, the Articles of Confederation, and the original constitution, including the original 13th Amendment.
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Corporate personhood
The 14th Amendment of the US Constitution grants rights to groups through 'equal protections'. However, this also means that everyone is enslaved to everyone else through corporate personhood. Corporate personhood is a legal concept that recognises a corporation as a person in the eyes of the law. This means that corporations have many of the same rights and protections as individuals, such as the right to free speech, the right to enter into contracts, and the right to own property.
The concept of corporate personhood has been used to challenge various laws and regulations, including those related to campaign finance, environmental protection, and labour rights. For example, in the case of *Citizens United v. Federal Election Commission*, the Supreme Court ruled that corporations have a First Amendment right to spend unlimited amounts of money on political campaigns, citing corporate personhood as a key factor in their decision.
While corporate personhood has been a source of debate and controversy, it is an important aspect of US constitutional law that continues to shape the relationship between businesses, the government, and individuals. It is a complex and evolving area of law, and its interpretation and application continue to be the subject of legal and political discussions.
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Frequently asked questions
The United States Constitution has seven clauses that touch on monetary policy. Four of the clauses include the word 'money', three the word 'coin', and two the word 'dollars'.
Article I, section 8, clause 5 of the constitution states that Congress shall have the power to provide for the punishment of counterfeiting the securities and current coin of the United States.
Article I, section 8, clause 2 of the constitution states that Congress shall have the power to borrow money on the credit of the United States, as well as to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures.
