The times. [volume] (Richmond, Va.) 1890-1903, 1894-11-27
THE GOVERNMENTS CONTROL OF
THE CURRENCY.

Elsewhere we print this morning a let
ter from Mr.. Barton H. Wise. OF this
city, discussing the currency and proper
amendments 10 make in our currency
laws. II Mr. Wise had confined himself
TO proposed changes in the currency laws
we should have had nothing TO say of
his letter, because we think any change
from the present system would be an
Improvement. But he has argued that the
United States Government rightfully has
control over the paper currency of the
country, and he thinks the country should
rejoice in the fact If we printed Mr..
Wise's letter without remark it might
be thought We sanction both these
propositions. whereas We can never hear
either announced without protesting
against ii with all the earnestness we
can command. In making the present
protest we shall also make a full re-
view of the reasons that govern us.
The Constitution Of the United States
provides that the Congress of the United
States shall have power Ito coin money
and regulate the value thereof and OF
foreign coins" If there is another word
in II giving Congress power over money.
or currency intended TO be a substitute
Tor money, we do not know where TO find
it,
Every word in this grant of power was
meant. the words had been most care
fully weighed, and nothing was intended
except what those words expressed in
their MISUNDERSTOOD meaning Let ii be
our task 10 prove this. We shall address
ourselves. in the first place, to the pTopo-
sition that the Constitution makers in
tended TO confne the Government of
the United States so far as money and
currency are concerned. to coming money,
regulating the value thereof and of for
eien coins.
In the first place. the Government was
given no power 10 do anything else, and
il is elementary and universal law that
such grant confers no more power than
what is expressly granted. 1t is expressed
In the maxim expressio unus, eXCluso
est alterius. The Supreme Court of the
United States has many times decided
that the Government of the United States
have no existence and no power what
ever outside of the express grants in
the Constitution, and 1t was universally
understood when the Constitution was
adopted that the powers of the Govern
ment were absolutely limited 10 such OBJ
jects as were expressly declared, and TO
such acts as might be necessary to make
its powers TO carry out those objects eff
fectual.
Just at the time the convention had
completed It's work and had sent the new
Constitution TO the States to be ratified
or rejected by them. It's friends held a
great public meeting In Philadelphia to
set the pace, as ii were. Of the public
understanding of what IL would accom-
plish. James Wilson. who had been a
delegate from Pennsylvania TO the con-
vention. and one of its most prominent
members. was selected TO explain 10 the
meeting what the Consultation meant
In his address he marked" as he ex-
pressed IL. "the leading discrimination"
OF the Constitution OF the United States
from their separate State constitutions
and he used these words: I'm delegating
Federal powers, the congressional au-
thority is TO be collected, not from tacit
implication. but from the positive grant,
expressed in the instrument OF union.
Everything which is not given is re-
served
IL space sufficed we could fill columns
with similar declarations from the franz
ers and the friends of the instrument
The people adopted the Constitution,
therefore. with the express understand
ing that the Federal Government should
have no authority to do anything at all
but those things which IL was expressly
authorized TO do or those things which
were necessory< In order to do the ex-
pressed things effectually, and none Of
its friends dared deny that this was all
IL meant. But so Jealous were they upon
this point that within one year OF the
adoption of the Constitution they
adopted the Tenth amendment to
n. Which declares that the powers
which are not expressly granted
10 the Government Of the United States
are reserved to the people of the States
AFR. Jefferson called this amendment the
cornerstone Of the Constitution. But
one of the principal purposes that was
had In view In framing the new Govern
ment was TO end the possibility OF paper
msnsy In the United States The States