But if they have other power to regulate the currency, it was conferred to be exercised by themselves, and not to be transferred to a corporation.




But if they have other power to regulate the currency, it was conferred to be exercised by themselves, and not to be transferred to a corporation.

But if they have other power to regulate the currency, it was conferred to be exercised by themselves, and not to be transferred to a corporation. --Andrew Jackson

It is maintained by some that the bank is a means of executing the constitutional power “to coin money and regulate the value thereof.” Congress have established a mint to coin money and passed laws to regulate the value thereof. The money so coined, with its value so regulated, and such foreign coins as Congress may adopt are the only currency known to the Constitution. But if they have other power to regulate the currency, it was conferred to be exercised by themselves, and not to be transferred to a corporation. If the bank be established for that purpose, with a charter unalterable without its consent, Congress have parted with their power for a term of years, during which the Constitution is a dead letter. It is neither necessary nor proper to transfer its legislative power to such a bank, and therefore unconstitutional.

Andrew Jackson

Year: 1832
Context: Veto Message Regarding the Bank of the United States
Tags: Congress have parted with their power, bank, charter, corporation, mint, money, only currency known to the Constitution, the Constitution is a dead letter, to coin money and regulate the value thereof, unconstitutional, value, without its consent



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