A History of Currency in the United States, with a Brief Description of the Currency Systems of All Commercial Nations |
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Common terms and phrases
adopted amount authorized bank circulation bank currency Bank of United banking system bill bimetallic bonds bullion capital cent charter clearing-house coin payments coinage of silver colonies commercial Comptroller Congress Constitution Continental Congress Continental currency contracts debt declared demand Democrats deposits depreciated discount exchange exports favor Federal Reserve Finance Report free banking free coinage fund gold and silver gold reserve gold standard greenbacks History of Banking House increased interest issue Latin Union legal tender notes legal tender power legislation loans measure ment metal monetary national bank national bank-notes note-issues paid paper currency paper money passed payable premium President prohibited question ratio received redeem redemption Reichsbank repeal Republicans resumption retirement revenues Secretary securities Senate silver certificates silver coins silver dollars Spanish dollar specie payments subtreasury surplus suspension tion Treasury notes United States Bank United States notes volume vote York
Popular passages
Page 82 - ... for carrying them into execution. The word "necessary" is considered as controlling the whole sentence, and as limiting the right to pass laws for the execution of the granted powers to such as are indispensable, and without which the power would be nugatory...
Page 83 - ... 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. To have declared that the best means shall not be used, but those alone, without which the power given would be nugatory, would have been to deprive the legislature of the capacity to avail itself of...
Page 82 - Although, among the enumerated powers of government, we do not find the word " bank " or " incorporation," we find the great powers to lay and collect taxes; to borrow money ; to regulate commerce ; to declare and conduct a war, and to raise and support armies and navies. The sword and the purse, all the external relations, and no inconsiderable portion of the industry of the nation, are intrusted to its government.
Page 82 - The result is a conviction that the states have no power, by taxation or otherwise, to retard, impede, burden, or in any manner control the operations of the constitutional laws enacted by Congress to carry into execution the powers vested in the general government.
Page 535 - In order to furnish suitable notes for circulation as Federal Reserve notes, the Comptroller of the Currency shall, under the direction of the Secretary of the Treasury...
Page 26 - Government created by this compact was not made the exclusive or final judge of the extent of the powers delegated to itself; since that would have made its discretion, and not the Constitution, the measure of its powers...
Page 543 - Any bank officer, director, or employee violating this provision shall be deemed guilty of a misdemeanor and shall be imprisoned not exceeding one year or fined not more than $5,000, or both; and may be fined a further sum equal to the money so loaned or gratuity given.
Page 543 - The shareholders of every national banking association shall be held individually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association to the extent of the amount of their stock therein, at the par value thereof, in addition to the amount invested in such shares...
Page 37 - The United States in congress assembled shall also have the sole and exclusive right and power of regulating the alloy and value of coin struck by their own authority, or by that of the respective states..
Page 82 - But the constitution of the United States has not left the right of congress to employ the necessary means for the execution of the powers conferred on the government to general reasoning. To its enumeration of powers is added that of making "all laws which shall be necessary and proper for carrying into execution the foregoing powers, and all other powers vested by this constitution in the government of the United States, or in any department thereof.