National Republican. (Washington City (D.C.)) 1872-1888, 1875-09-28
THE TREASURY BANK.

81. 8. W" Rsjoins Upon 81. E." and Ex-
pounds the Constitution and It's Financial
Powers.
WASHINGTON, ID. O., Sept. "a, 1876.
To the Editor Of the National Republican:
SIR: The Constitution OF the United States, as
q document of political inspiration, lays down o
few fundamental rules, and 1t Is wonderful to OBJ
serve what an immense structure has been erected
on the strength Of these few pages Of regulations
for human society. 1t could not NEEDLE with the
untold details belonging to the government Of q
large and powerful nation, nor could IL provide
for every possible contingency Of an unknown fu-
ture. Those men who framed our Constitution
felt, no doubt, consciously instinctively, that
those matters could be safely lett to the coming
generations, for SO leng as the spirit OF this Con-
sttution was appreciated and lived up to, SO long
would there be no danger Of deviating from its
principles in such matters which had not been dis
tinctiyely provided for.
When, therefore, amongst
THE POWERS cor FERRED ON CONGRESS-
by the Constitution we find this; ITO coin money,
regulate the value thereof, and Of foreign coin,"
It would he absurd to contend that Congress had
no powers beyond the mere fact Of coming our
money at the mint. There Is an important addi-
tion made to these specified powers Of Congress,
and this reads as follows: sand to make all laws
which shall be necessary and proper for carrying
into execution the foregoing powers, and all other
powers vested BY this Constitution In the Govern
ment Of the United States, or in any Department
or officer thereof" When, therefore, besides the
coming Of money, Congress is furthermore en-
powered .'to borrow money on the credit Of the
United States,n and also TO regulate commerce
with foreign nations and among the sereraI States"
It becomes apparent that Congress has every re-
quisite power to regulate the general finances Of
the country, and that 1t is Its simple duty to
do 50. 80
THE PRIVILEGE OF COMING MONEY,
Tor instance embraces all the multifarious duties
concerning its duty, the rules for Its transmission
into general circulation, ETC., etc. Instead of
transferring heavy bags Of coin from the Gov
what is TO hinder that Government allowing the
bags to remain in its vaults, simply giving q re-
ceipt or certificate Of deposit in lieu Of the same?
This receipt or certificate may circulate for years
among the people, and what is this but the In
cipient idea Of circulationf And II this can be
done for the convenience Of the rich, handling
large runs, why should It not be done for the
convenience Of common people, 80 that they can
handle receipt for one or ve or ten dollars (and
bank bill is really nothing else instead Of the
inconYenient coinf II Congress, therefore, can
coin money, and "t deems It necessary and
proper to carry into execution this and other
powers" It evidently can carry out any plan
which, In connection with the coming, ia deemed
beneficial and convenient to the people.
e Bat regulating. the finances Of the country,
and attempting to control all the financial bust
ness Of the same, are two widely different things.
When, therefore, "H. R., who reviewed my arti-
Gle on this question In your paper otlast wednes-