"Madison, agreeing with the journal of the convention,
records that the grant of power to emit bills of credit
was refused by a majority of more than four to one.
The evidence is perfect; no power to emit paper money
was granted to the legislature of the United States." | by: | George Bancroft
(1800-1891) American historian, U.S. Secretary of the Navy (1845-1846), established the United States Naval Academy at Annapolis in 1845 |
Source: | A Plea for the Constitution (1886) |
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