Section 1 Article 8.5
The Congress shall have Power To coin Money...
Article I, Section 10, "No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts".
Originally, States collected Federal Taxes and forwarded them. These two clauses Prevented states from collecting anything but Congressionaly minted gold and silver Coin.
It prevented states from submitting anything but coined Money to the US Treasury.
Foreign Coin would be made regular according to the fixed Standard of Weights and Measures.
One Dollar is 371 4/16 grains of pure silver, by definition or (24.057g).
http://www.coinflation.com/coins/1921-1935-Silver-Peace-Doll... $FRN 22.25(20/3/2013).
Having Coins branded by Congress was intended to promote ease of exchange between the people and their State and the State and the US. Treasury.
If we hold to the definition of a Dollar in grains or gram-equivalent of pure silver then anyone can assay, weight and determine how many Dollars they are holding.
I have a small handful of US Coins and Canadian coins. Roughly 371.25 grains.
Constitutional Money has been waiting for us to recognize its value. The new colonies had suffered the booms and busts of paper monies. Did the founders leave away out?
All we need do is agree on the weight of the Dollar. The market will adjust.
If we use the 1792 definition then we have 220 years of Dollar described references.
Free includes debt-free!
Want DP delivered to your inbox daily? Subscribe here: