Currency Regulation Quotes

it is obvious that there is only wanting to the fiscal prosperity of the Government the restoration of an uniform medium of exchange … it is essential that the nation should possess a currency of equal value, credit, and use wherever it may circulate. The Constitution has entrusted Congress exclusively with the power of creating and regulating a currency

Where there is a free government, and the people make their own laws by their representatives, I see no injustice in their obliging one another to take their own paper money.

All issues - purchasing and selling of currency - are related to the regulation of the national currency market. However, it is still difficult to say what will be the reaction of the Central Bank and if it would lead to increasing the gold and foreign currency reserves.

The gold dollar shall be the standard unit of value. For all forms of money issued or coined in the United States, it shall be maintained at a parity with this standard.

EO 11110 did not order the printing of Silver Certificates. It ordered the amendment of a previous executive order so that the United States Code would authorize or 'empower' the Secretary of the Treasury to issue Silver Certificates if the occasion should arise.

If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.

I believe gold and silver coin to be the money of the Constitution. No power was conferred on Congress to declare that either metal should not be money. Congress has therefore no power to demontize silver any more than to demonitize gold.

Bitcoin is mostly about anonymous transactions, and I don't think over time that's a good way to go. I'm a huge believe in digital currency... but doing it on an anonymous basis I think that leads to some abuses, so I'm not involved in Bitcoin.

Originally, Congress provided in 1793 that all foreign coins circulating in the United States be legal tender. Indeed, foreign coins have been estimated to form 80 percent of American domestic specie circulation in 1800.

As long as we issue fiat currency, I see no alternative to a legal tender law.

Our [the Federal Reserve Board] job is to make sure that the money is kept as scarce as it would be if it were backed by gold.

Thus those reformers, who look for a remedy by creating artificial carrying-costs for the money through the device of requiring legal-tender currency to be periodically stamped at a prescribed cost in order to retain its quality as money, or in analogous ways, have been on the right track; and the practical value of their proposals deserves consideration.

Control the coinage and the courts — let the rabble have the rest.

We do not interpret bitcoin's popularity as having a relationship with the public's view of the Federal Reserve's conduct of monetary policy

Experience, however, shows that neither a state nor a bank ever have [sic] had the unrestricted power of issuing paper money without abusing that power; in all states, therefore, the issue of paper money ought to be under some check and control; and none seems so proper for that purpose as that of subjecting the issuers of paper money to the obligation of paying their notes either in gold coin or bullion.

If you look at a copy of EO 11110, you will find that it does not order the issuance of Silver Certificates. It orders an amendment to EO 10289... Those functions did not include the power to issue Silver Certificates.

Variableness must ever be the characteristic of a currency of which the precious metals are not the chief ingredient, or which can be expanded or contracted without regard to the principles that regulate the value of those metals as a standard in the general trade of the world.

I hold all idea of regulating the currency to be an absurdity; the very terms of regulating the currency and managing the currency I look upon to be an absurdity; the currency should regulate itself; it must be regulated by the trade and commerce of the world; I would neither allow the Bank of England nor any private banks to have what is called the management of the currency.

To those advocates of independent paper moneys who also champion the free market, I would address this simple question: "Why don't you advocate the unlimited freedom of each individual to manufacture dollars?" If dollars are really and properly things-in-themselves, why not let everyone manufacture them as they manufacture wheat and baby food?

We will never cause any money to be coined in the land of any of the princes which shall be injurious to his coinage.

Eventually the dollar won't always rule. Eventually there will be a challenge to the United States and it will have to be like other countries that are a bit concerned about their currency, and then have to ratchet back in order to - right, in order to sustain. We just haven't reached that point yet.

The breadth and comprehensiveness of the words of the Constitution are nowhere more strikingly exhibited than in regard to the powers, over the subjects of revenue, finance, and currency

No government proposal more complicated than "This note is legal tender for all debts, public and private" ever works.

If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content.

One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.