The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1890-12-09
Il TaE oUB-A REAoURY BILL
CONSTITUTIONAL
rEllIson 8. Keitt, in the Cotton Plant

loving language appears:
is it constitutional 2 The writer, who
has been a student of the government
and of constitutional international
law for more than thirty years, u
hesitasingly afirms that no man who
understands the Constitution Of the
country and the legislation of the
government and is familiar with the
decisions of the Supreme Court of the
Uniged States and has examined the
"oiII" analytically and alphabetically,
if he has any pride of opinion as a
constitutional lawyer, will say it is I'm
constitutional"
| will now proceed to make good
and clear tae ABOVE affirmation and
demonstrate as clear as a mathematical
problem that every principle contained
in the " bill prepared by the Legisla
tive committee and introduced in the
House of Representatives by H IN. Mr..
Picker is constitutional; aid the
chosen leaderU of the Alliance in its
preparation displayed more wisdom
tn n has been accorded to them.
Upon an analysis of the "bil" it
will be found that it contains six prIn
ciples. The right Of the government
to purchase Ian and to build ware.
houses, to appoint agents and to receive
deposits, to create money and to loan
money. These and these alone are
the principles involved in the bill"
The-e cau be no dispute as to the
right of the government to purchase
land and to build warehouses, to ap
point agents and to receive deposits
of whiskey, merchandise and the
precious metals, in the execution of
the internal revenue laws and the Gus
toms laws, which are intimately inter
woven with the United States Treas.
ury. That right has been and is now
in full practical operation. We have
now only to make clear the right of
the government to create money and
to loan money. In regard to the
former, the following is the decision
of the Supreme Court of the United
States, opinion delivered by Justice
Gray:
The Court holds, therefore, that
Congress has power to issue obliga
tions of the United States in such
form and to impress upon them such
qualities as currency for the purchase
OF merchandise and payment of debts
as accord with the usage of a sOver
eign government. x + X \ +
This power Of making notes of the
United S atea Legal tender in payment
OF private debts being included in the
power to borrow money and to provide
a national currency is not defeated or
restricted by the fact that its exercise
may affect the value of private con
tracts. x x X Congress, as the
legislature OF a sovereign nation, be
ing expressly empowered by the Con
stitution to levy and collect taxes, to
pay debts and provide for the common
defense and general welfare of the
United States, and to borrow none
on the credit of the United State s, and
to coin money and regulate the volume
thereof and Of foreign coin and being
clearly authorized to coin as incidental
to the exercise Of those great powers.
to emit bills Of credit, to charter
national banks and to provide a
national currency for the whole peo.
pc In the form of coin, treasury notes
and national bank bills, and the DO yer
to make notes of the government a
legal tender in payment of private
debts, being OF the powers Oelong
ing to sovereignty in other civilized
nations, and not expressly withheld
from Congress by the Constitution,
we are irresistibly impelled to the con
clusion that impressing upon treasury
notes of the United States the quality
OF being legal tender in payment of
private debts is an appropriate means
conducive and plainly adapted to the
execution of the undoubted power Of
Congress consistent with the letter
and spirit of the Cons tuition; there
fore within the meaning of that instru-
ment necessary and proper for carry
ing into execution the powers vested
by this Constitution of the Govern.
ment of the United States.
"Such being u conclusion in the
matter Of law, the question whether
at any time IN war or peace the ext
gency is such by reason of unusual
and pressing demands on the resources
of the government or of ~lnadequacy
of the supply of gold and silver coin
to furnish the currency needed for
uses of the government and of the
people, that it is as a matter of fact
wise and expedient to resort to this
mean is a political question to be de-
termined by Congress when a question
of exigency arises and not a judicial
question to be afterward passed upon
by the courts"
1t is clear from the above decision.
that Congress has the constitutional
right to order an issue of treasury
notes. such as is contemplated in the