The Legal Tender ProblemAinsworth, 1904 - 338 ページ |
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abuses amount Articles of Confederation authorized the issue bank-notes bankers bills of credit bonds branch bank cause cent certificates Chief Justice Marshall circulating currency colonies commodities Congress Constitution Continental Congress Continental currency contract corporation creditors Dartmouth College debtor demand notes deposit dollars emit bills ernment evident exchange of products exercise expressions of labor expressions of value February 25 financial system forced gold and silver gold coins Government grant a charter hard-money faction influence interest issue notes issue treasury notes Jefferson labor expressions labor value legal tender legal-tender value legislation Legislature loan Massachusetts mediums of payment ment metallic millions money of account necessary necessity notwithstanding owners of gold paid paper money party power to emit practise property-rights prosperity received redeem refused secure silver coins six-per-cent sovereign power State-bank faction Supreme Court tion trade United Webster Whig
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205 ページ - All subjects over which the sovereign power of a state extends, are objects of taxation; but those over which it does not extend, are, upon the soundest principles, exempt from taxation.
202 ページ - Among the enumerated powers, we do not find that of establishing a bank or creating a corporation. But there is no phrase in the instrument which, like the Articles of Confederation, excludes incidental or implied powers; and which requires that everything granted shall be expressly and minutely described. Even the 10th Amendment, which was framed for the purpose of quieting the excessive jealousies which had been excited, omits the word "expressly...
235 ページ - But when the laws undertake to add to these natural and just advantages, artificial distinctions, to grant titles, gratuities, and exclusive privileges, to make the rich richer, and the potent more powerful, the humble members of society, the farmers, mechanics, and laborers, who have neither the time nor the means of securing like favors to themselves, have a right to complain of the injustice of their government.
88 ページ - Union, at a time and place to be agreed on, to take into consideration the trade of the United States; to examine the relative situation and trade of the said states; to consider how far a uniform system in their commercial regulations may be necessary to their common interest and their permanent harmony...
203 ページ - 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.
19 ページ - Labour alone therefore, never varying in its own value, is alone the ultimate and real standard by which the value of all commodities can at all times and places be estimated and compared.
66 ページ - The taxes for paying that proportion shall be laid and levied by the authority and direction of the legislatures of the several states within the time agreed upon by the united states in congress assembled.
233 ページ - Every monopoly and all exclusive privileges are granted at the expense of the public, which ought to receive a fair equivalent. The many millions which this act proposes to bestow on the stockholders of the existing bank must come directly or indirectly out of the earnings of the American people.
230 ページ - Both the constitutionality and the expediency of the law creating this bank are well questioned by a large portion of our fellow-citizens ; and it must be admitted by all, that it has failed in the great end of establishing a uniform and sound currency.
16 ページ - The value of any commodity, therefore, to the person who possesses it, and who means not to use or consume it himself, but to exchange it for other commodities, is equal to the quantity of labour which it enables him to purchase or command. Labour, therefore, is the real measure of the exchangeable value of all commodities.