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Politics : Sharks in the Septic Tank -- Ignore unavailable to you. Want to Upgrade?

To: gao seng who wrote (16851)	6/15/2001 1:22:12 PM
From: Neocon	Respond to of 82486

So far,this is what I have from the Constitution. It is not evident to me that the Federal Reserve Act violates any of these provisions: Article 1 Section 8. Clause 1: The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; Clause 2: To borrow Money on the credit of the United States; Clause 3: To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes; Clause 4: To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States; Clause 5: To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; Clause 6: To provide for the Punishment of counterfeiting the Securities and current Coin of the United States

To: gao seng who wrote (16851)	6/15/2001 1:26:15 PM
From: Neocon	Respond to of 82486

The other section dealing with money is this: Article 1 Section 10. Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility. As far as I know, that's it. Only this section refers to the States, not the federal government. States could not authorize the use of bank notes, but could only issue species coins. However, no such limitation exists for the federal government.