"If Congress has the right under the Constitution to issue paper money,
it was given to be used by themselves, not to be delegated to individuals
or corporations."
Andrew Jackson
(1767-1845) 7th US President
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oops, that pesky constitution almost got in the way again.
 -- Mike, Norwalk     
  • 2
     -- Anonymous      
    So the individual now 535 members of Congress are each severally and as a group to issue paper money. How are they to do this, each walk around with billions of dollars and give it or issue it to their friends and family. What the hell is Jackson saying here, if not nothing at all. What the Constitution gives Congress is the will or power to do things, it does not limit its powers to delegate methinks, as long as it maintains OVRSIGHT and REGULATES. Lincoln did Jackson one better, Salmon P. Chase, Lincoln's Secretary of The Treasury related that when he showed the new currency to the President Lincoln thought he was going to have to sit in his office and personally sign every bill. If he could not delegate the signing power he would have spent his entire Presidency sitting at his desk signing dollar bills.
     -- Waffler, Smith, Arkansas     
  • 2
     -- jim k, austin      
    Had the Congress of 1913 had the foresight or the willpower to give no credence whatever to a central bank owned and run by international bankers, one with its own, not the American people's interests in mind, it would have done a great and patriotic service to the USA. The issue of currency could have been done "in house" by the US Mint and with "in house" oversight. As it is the idea that there is any oversight at all over "the Fed" is an absolutely appalling joke. This accurately called "Pit of Vipers" are the owners of America, not its servant. But now that the Neo Con, Bush, has come right out and said "The Constitution is just a damned piece of paper" I think we all know that any hope of an American Republic lies in the hands of the American people.
     -- J Carlton, Calgary     
  • 2
    If Congress has the power to issue a bond (i.e. Treasury bond, T-bill, promissory note) then it can issue a dollar 'bill.' The Federal Reserve was created so that Congress did not need to have the support of the people. Congress used to sell bonds to raise money for whatever war or welfare program they wanted to impose. But what if the people didn't support the programs and did not buy US bonds? The Fed was created to be the 'lender of last resort' in which the Fed could exchange Federal Reserve Notes for interest-bearing T-bills. The only caveat was that the possession of gold must be declared illegal and exchanged for Federal Reserve Notes and the checkbook currency of the Fed and its chartered banks. What would happen if a private corporation were given the exclusive 'right' to counterfeit money? It would only be a matter of time before that company would become master of all. That's what has happened. If the Fed was REALLY there to protect America from depressions, then it could simply forgive 1 trillion dollars worth of debt instead of printing up another trillion that the taxpayers must pay the interest on -- FOREVER! Waffler, I am just shaking my head -- "What the Constitution gives Congress is the will or power to do things, it does not limit its powers to delegate methinks" -- well, youthinks wrong. The Constitution grants explicit powers, i.e. strictly LIMITING those powers. All you are talking about is uncontrollable power to "regulate, regulate, regulate." Yeah, that's like putting the foxes in charge of the hen house. Are you really that dumb? (That's not name-calling -- that is an honest question.)
     -- E Archer, NYC     
  • 3
    Congress is apparently given the power to issue money, I don't know that that power says that the 535 members must personally issue the money hand to hand from their own pocket. They have set up a mechanism for issuing money and they should regulate that mechanism. Being called names and having the likes of some people on this site use invective against my comments and me is a badge of honor that I wear proudly. Name calling and invective is proof of a weak argument, defense of a weak mind, defense of lying, and dementia. In face to face discussion the name caller will usually resort to shouting, a sure sign that he is wrong.
     -- Waffler, Smith, Arkansas     
  • 2
    You make no argument, Waffler, just another inane answer of no substance whatsoever. (Ever hear of the Department of the Treasury?) If you are so smart, then what is the "mechanism for issuing money" and how is it "regulated"? Just because someone thinks you are dumb doesn't make them wrong. I don't think it is a badge of honor to be arrogant and ignorant. The only thing you should be wearing is a dunce's cap.
     -- E Archer, NYC     
  • 1
    Thanks again I do appreciate it. I know I throw my pearls before swine so keep groveling pig.
     -- Waffler, Smith, Arkansas     
    This is not a real quote. This "version" first appeared as a comment to a democratic blog in 2003. The actual quote is "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."
     -- mark, Anchorage     
  • 2
    LIBERTY AND FREEDOM ARE THE PEARLS, Waffler tramples upon ! " when reality sinks in with the Wafflers of the world, then they are held accountable ! This experience has shown ! "
    ' In meekness instructing those that oppose themselves; if God peradventure, will give them repentance to the acknowledging of the Truth; And that they may recover themselves out of the snare of the devil, who are taken captive by him at his will."
    Peradventure, ( Mepote, lest ever, of the possibility of being found fighting against God, " lest" of the possibility of having an evil heart of unbelief, of laying a foundation unable to to finish the building.) II Timothy 2:25. But evil men and seducers shall wax worse and worse, deceiving and being deceived. 3:13.

     -- Ronw13, Yachats OR     
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