Year: 1862

VIC 1ICdSuI NOGc Dill


The power to emit bills of credit and
make them a legal tender is nowhere OK
pressly given in the Constitution; but it is
known that but few of the acts which Gov
ernment can perform are specified IL that
instrument. 1t would require volume
larger than the Pandects of Justinian or
the Code Of Napoleon to make such emu
meration, whereas our Constitution has but
few pages. But everything necessary to
carry out the granted powers of the Gov
ernment is not only applied but expressly
given to Congress. If nothing could be
done by Congress except what is enumera-
ted in the Constitution, tie Government
could not live a week.


The States are prohibited from making
anything but gold and silver coin tcader
in the payment of debts but such prohi-
bltion does not extend to Congress. The
Constitution is silent as to the power Of
Congress over the subject The whole
question of the right to emit bills of credit
by Congress was considered in the conven-
tlon that framed the Constitution. 1t was
reported as part of the power to borrow
money 1t was objected to as tending to
make paper currency with legal tender.
and q motion was made to strike it out and
insert an express prohibition That was
resisted, because, as Mr., Mason said, it
could not be torseen what the necessities
OF the Government might at some time re.
qulrc. The late war, he said, could not
have been carried on had such prohibition
existed 1t was finally agreed to strike
out the express power, and not to insert
the prohibition, leaving it to the exigen-
cles OF the times to determine its necessity.
The right to emit bills of credit, which the
convention expressly refused to grant as a
substantive power, has for fifty years, by
the common consent Of the nation, been
practlced, and is now conceded by every
opponent Of this bill. With what grace
can the concomitant power to make them
legal tender be objected to The Su
preme Court have settled certain principles
with regard to the power of Congress over
measures not expressly enumerated in the
Constitution. The principle is, that where
anything IS necessary to carry into effect
the granted power it is constitutional The
eighth section of the first article of the
Constitution gives Congress power


To make all laws which may be noces-
sary and proper to carry into execution the
foregoing powers, and all other powers vested
by this Constitution in the United States or
ia any department or Office thereof"


The Constitution nowhere gives Con
gress power to create corporations or to es-
tablish a bauk Of the United States But
as Congress had power to regulate COM
nlerce and to regulate the value OF coin
and it deemed the establishment of bank
necessary to effcctuate those powers, the
Supreme Court pronounced it constitution
al. In short, whenever any law is neces-
s0iy and proper to carry into execution any
delegated power such law is valid That
necessity need lot be absolute, inevitable
and overwhelming-ifi it be useful, expe
dient, profitable, the necessity is within the
constitutional meaning. Whether such
necessity exists is solely for the de-
cision Of Congress. Their judgment is
absolute and conclusive. If Congress
should decide this measure to be necessary
to granted power, uo department. of the
Government could rejudge it. The Su-
preme Court might think the judgment
Of Congress erroneous, but they could not
review it. Now it is for Congress to de-
termine whether this bill is necessary to
raise and support armies and navies, to
borrow money, and provide for the gener-
al welfare They are all granted powers
1t is for those who think that it is not me
cesSary, useful, proper to propose some
better means, and vote against this if
majority think otherwise, its constitution
ality is established


If constitutional, is it expedient? 1t is
objected by the gentleman from Ohio that
the legal tender clause would depreciate
the notes. All admit the necessity of the
issue, Bat some object to their being made
money. It's not easy to perceive how notes
issaed without being made Immediately
payable in specie can be made any worse
by making them legal tender. And yet
that is the whole argument so far as expe-
cheney is concerned Other gentlemen
argued that this would impair contracts by
making a debt payable in other money than
that which existed at the time of the con-
tract, and which would be so unconstitu
tional. Where do gentlemen find any pro-
hibition on Congress against passing laws
impairing contracts? There is none,
though it would be unjust to do it. But
this impairs no contract. All contracts
are made not only with view to present
laws, but subject to the future legation of
the country. We have more than once
changed the value Of coin. Neither our
gold or silver coin is as valuable as it was
fifty years ago. Congress in 1858, be,
lieve, regulated the weight and value of
silver. They debased it over seven per
cent. and made it a legal tender Who
ever pretended that that was unconstitu-
tional? The gentleman from Vermont