What was the main advantage to the federal government having the sole power of printing and coining money?

1 Answer
Apr 14, 2017

It is a guarantee of the sovereignty of the state.


Mayer Amschel Rothschild famously said "Let me issue a nation's money and I dont' care who writes its laws". It is crucial for a state to control the issuance of its money to be independent.

The section 8 of the first article of the American constitution clearly confers Congress the sole right to issue money and makes gold and silver the ony legal tender. The Federal Reserve System is therefore unconstitutional.

People like Andrew Jackson and Thomas Jefferson therefore had a more democratic approach than people such as Alexander Halmiton.