Elementary Facts Bearing on the Silver Question: With Suggestions As to Their Present Significance (Classic Reprint)
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Excerpt from Elementary Facts Bearing on the Silver Question: With Suggestions as to Their Present Significance
The Constitution of the United States provides that Congress shall have power To coin money, regulate the value thereof, and of foreign coin. (art. I., Sec. 8, paragraph It also pro vides that no State shall coin money or make anything but gold and silver coin a tender in pay ment of debts. (art. I., Sec. 10, paragraph I.) Under the authority given by the Constitution, the act establishing the United States Mint was passed, and was approved April 2, 1792. It pro vides that the ratio of silver and gold shall be 15 to I, and that any person may bring either gold or silver bullion to the mint to be coined, and that it shall be coined free of expense, and that all gold and silver coins struck at the mint shall be lawful tender in all payments whatsoever (i U. S. Stat. At Large, p.
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