The Federal Reserve is within the ConstitutionSubmitted by Mruiz201 on Tue, 12/01/2009 - 11:22
Im in an arguement with a friend of mine about the Federal Reserve being a constitutional organization... he is citing an article that says:
In Article I, Section 8, Clause 7, Congress is granted the power To establish post offices and post roads..In Searight v Stokes (1845) the Supreme Court ruled that the Congress could accomplish this by entering into a contract with a State to undertake the construction and upkeep of a postal road. In short, Searight upholds the Congress' authority to charge some other entity with the inaction of its powers. Indeed later and repeated opinions and dissents confirm the Searight decision. Congress is not bound to undertake provisions in Article I, Section 8 but merely granted the power to do so. As such, the charging of a third party with the responsibilities of monetary governance is neither unconstitutional nor without precedent.
I dont know much about the case and wont have time to do my research today. I'm looking for some help or insight to this. Thanks!