Comment: The Constitution Failed

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The Constitution Failed

by not explicitly barring legal tender laws. Setting the weights and measures of as well as barring counterfeiting of US Coin is not the same thing as making it the exclusive money of US Citizens.

That this was the intent is clear since they allowed Spanish pieces of 8 to circulate and also allowed at least two private mints to operate in early America.

The first failure of the people was allowing the banks to be elevated above the law by releasing them from their contractual obligations after the war of 1812. You had to pay your debts to the banks in Gold/Silver but the banks now short of specie were allowed to pay their debts in paper....the first bailout, (by allowing them to welsh on their contractual obligations), they have been outlaws in America ever since.