George Bancroft, United States Constitution, U.s. Supreme Court

[♦ nivek ♦]

"Madison, agreeing with the journal of the convention,

records that the grant of power to emit bills of credit

was refused by a majority of more than four to one.

The evidence is perfect; no power to emit paper money

was granted to the legislature of the United States."

-- George Bancroft

(1800-1891) American historian, U.S. Secretary of the Navy (1845-1846), established the United States Naval Academy at Annapolis in 1845

Source: A Plea for the Constitution (1886)

http://quotes.liberty-tree.ca/quote_blog/G...roft.Quote.2BD3

 

 

"No state shall emit bills of credit, make any thing but gold

and silver coin a tender in payment of debts, coin money..."

-- United States Constitution

Source: United States Constitution, Article One, Section Ten

http://quotes.liberty-tree.ca/quote_blog/U...tion.Quote.2BD4

 

 

"Emitting bills of credit, or the creation of money by private corporations,

is what is expressly forbidden by Article 1, Section 10 of the U.S. Constitution."

-- U.S. Supreme Court

Source: Craig v. Missouri, 4 Peters 410.

http://quotes.liberty-tree.ca/quote_blog/U...ourt.Quote.2BCD