The U.S. Constitution and Monetary Powers: An Analysis of the 1787 Constitutional Convention and Constitutional Transformation of the Nation's Monetary System Emerged / Farley Grubb.

Format:

Book

Author/Creator:

Grubb, Farley.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w11783.

NBER working paper series no. w11783

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

The U.S. Constitution and Monetary Powers

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2005.

Summary:

The monetary powers embedded in the U.S. Constitution were revolutionary and led to a watershed transformation in the nation's monetary structure. They included determining what monies could be legal tender, who could emit fiat paper money, and who could incorporate banks. How the debate at the 1787 Constitutional Convention over these powers evolved and led the Founding Fathers to the specific powers adopted is presented and deconstructed. Why they took this path rather than replicate the successful colonial system and why they codified such powers into supreme law rather than leaving them to legislative debate and enactment are addressed.

Notes:

Print version record

November 2005.