Which government has power coin money?
The Congress
Article I, Section 8, Clause 5: [The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; . . .
Does the Constitution allow the government to coin money?
The Constitution contains only two sections dealing with monetary issues. Section 8 permits Congress to coin money and to regulate its value. Section 10 denies states the right to coin or to print their own money. State banks did not coin money, nor did they print any “official” national currency.
What does the Constitution say about coining money?
From Article I, Section 8, there is “Congress shall have Power…to coin Money, regulate the Value thereof, and of foreign Coin.” And from Section 10, “no state… As for the first clause, Congress could set up a mint. That is about all it says. Congress can coin money and specify what its denomination is.
Did the Constitution assign the power to coin money to Congress?
Article I, Section 8, Clause 5: [The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; . . .
What types of powers does the Constitution give to Congress?
Congress has the power to:
- Make laws.
- Declare war.
- Raise and provide public money and oversee its proper expenditure.
- Impeach and try federal officers.
- Approve presidential appointments.
- Approve treaties negotiated by the executive branch.
- Oversight and investigations.
What does the constitution say about coining money?
Congress shall have power to coin money, regulate the Value thereof, and of foreign coin, and fix the standard of weights and measures. ~ Art. I, sec. 8, cl. 5. Congress shall have power to provide for the punishment of counterfeiting the securities and current coin of the United States. ~ Art. I, sec. 8, cl. 6.
What is the power of Congress to borrow money?
Congress shall have power to borrow money on the credit of the United States. ~ Art. I, sec. 8, cl. 2. Congress shall have power to coin money, regulate the Value thereof, and of foreign coin, and fix the standard of weights and measures. ~ Art.
What kind of power does Congress have to regulate coins?
Congress has no such ‘plenary’ power. Its power to regulate the value of gold and silver coins is a limited power that exists for the limited purpose of ensuring that both kinds of coin remain in circulation, that is, to counteract Gresham’s Law.
How many money clauses are there in the Constitution?
Four of the clauses include the word ‘money,’ three include the word ‘coin,’ and two include the word ‘dollars.’ /1. Below is the text of each of the clauses, followed by some definitions and comments. The Seven Money Clauses. “Congress shall have Power … To borrow Money on the credit of the United States[.]” Art.