Q:

What is the power of national government to coin money?

A:

Quick Answer

The national government's power to coin money is its authority to issue money for standard usage throughout the United States. The government also has the related power of regulating the value of the money that it makes. This power comes from Article I, Section 8 of the U.S. Constitution, but the national understanding of the extent of this power has changed throughout history.

Continue Reading

Full Answer

The Heritage Foundation explains that the phrase "to coin money" refers to Congress's authority to make money from precious metals like gold and silver. The significance of this clause of the Constitution lies in the fact that historically the power to coin money was identified with political sovereignty. The states were unnerved by the acquiescence of political sovereignty to the national government.

Initially, the issuance of paper money was not considered to be part of the national government's power to "coin money." Wikipedia describes how Article 1, Section 10 of the Constitution forbids the states from making anything other than silver and gold coins "legal tender," but it does not define any such prohibition for the federal government. Nevertheless, paper money was long thought to be unconstitutional. It was not until the presidency of Ulysses S. Grant that the Supreme Court upheld the constitutionality of paper money issued during the Civil War.

Learn more about Law

Related Questions

  • Q:

    What is a legal affidavit?

    A:

    A legal affidavit is a printed or written statement prepared and signed by a witness or party before a court of law or some other authority that possesses the power to witness an oath. An affidavit has specific features and details that must be present, and must be in a form that is accepted by legal clerks, attorneys and prosecutors. Affidavits filed in court must be served to all parties.

    Full Answer >
    Filed Under:
  • Q:

    What is the definition of "ordinance power"?

    A:

    According to the Free Dictionary, ordinance power describes the influence and laws that are enforced on a jurisdiction by authority figures and a local government. An ordinance is a law, a statue, or a regulation enacted by a municipal corporation.

    Full Answer >
    Filed Under:
  • Q:

    What are some laws regarding power of attorney?

    A:

    A power of attorney gives one party the authority to act on behalf of another as his agent and can make legal and life decisions on their behalf according to the Legal Information Institute at Cornell University Law School. Power of attorney can take effect immediately or on a future date associated with a certain event.

    Full Answer >
    Filed Under:
  • Q:

    Who makes the order to fly a flag at half staff?

    A:

    Only the president of the United States or a governor of a state possesses the legal authority to order flags to fly at half-staff. The flag remains at half-staff for a certain amount of days, based on the circumstances of the deaths and individuals involved, notes the U.S. Flag Code.

    Full Answer >
    Filed Under:

Explore