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the want of this power, more than for any other defect, that the confederation proved a failure.

This provision also assumes that the government will have debts to be paid, and this concurs with the power allowing government to borrow money-to issue evidences of debt or securities.

It is quite apparent, indeed it seems self-evident, that money is indispensable for the maintenance of civil government. Mr. Hamilton called it the "vital principle of the body politic," as "that which sustains its life, and enables it to perform its essential functions." Congress, under this provision, has the unlimited and uncontrollable power of taxation, except that "all duties and imposts and excise shall be uniform throughout the United States." Its power is absolute, sovereign and supreme. It is to levy and collect taxes, "to pay the debts, and provide for the common defence and the general welfare." Congress is the exclusive judge of what is essential to the "public welfare, and what is necessary or proper for the common defence." For these great governmental purposes, at all times, in peace and war, money, and in large amounts, is demanded-is absolutely indispensable. Congress must determine the subjects for taxation, and provide the ways and means to raise the money required. Certainly it may anticipate the collection of taxes by borrowing money, and I cannot see why, if metallic money is scarce, and the collection of taxes slow, difficult or impossible from want of a circulating medium, it may not authorize the issue of treasury notes to supply the deficiency.

In the celebrated argument of Mr. Hamilton on the constitutionality of a bank of the United States, in February, 1791, he says on this subject: "To designate or appoint the money, or a thing in which taxes are to be paid, is not only a proper but a necessary exercise of the power of collecting them. The payment might have been required in the commodities themselves; taxes in kind, (however ill

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judged,) are not without precedents even in the United States; or it might have been in the paper money of the several states, or in the bills of the Bank of North America, New York or Massachusetts, all or either of them; or it might have been in bills issued under the authority of the United States. The appointment of the money or thing in which taxes are to be paid is an incident to the power of collection."

In a debate upon a bill to authorize the issue of treasury notes in February, 1838, Mr. Calhoun, in support of the bill, said: "The right had been exercised from the commencement of the government without being questioned, and according to his conceptions came within the power expressly granted to congress to borrow money, which means neither more nor less than to raise supplies on the public credit."

The act in this case passed with the support also of Silas Wright, Mr. Benton, Robert J. Walker, and all the senators of the hard money school, and was approved by Mr. Van Buren, who was then president. The act in this instance amended an act for the issue of $10,000,000 treasury notes, passed at the September extra session of 1837, which was supported and voted for by Mr. Webster, who on repeated occasions affirmed the power of the government to issue treasury notes. (Vide 4th volume Webster's Works, p. 368, 474, 543 and 546; and 5th id., 136 and 156.)

This practice of the government, under all administrations, from its origin, with the sanction of all the presi dents and leading statesmen of the country, seems to me, ought to put this question, so far as relates to the power congress, forever at rest.

of

The power to issue the notes being granted or assumed, it becomes then purely a matter in the discretion of the legislature in what form, size and respective amounts they shall be issued. The fact that they are of such denominations, and form, and amounts, as conveniently to go into

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circulation, and serve the office of money, cannot affect the question of the power to issue them, or detract from their validity as lawful government securities. We come then to the remaining question:

II. Assuming that congress has power to authorize the issue of treasury notes, can it make such notes a legal tender?

If the argument is sound, that congress has the power to authorize the issue of treasury notes and pay them out to the public creditors, who will voluntarily receive them as a substitute for money, and that they are valid government securities, I cannot see why it does not follow as a necessary and legitimate consequence, that it has the power, if the occasion will justify so extraordinary a measure, to declare what shall be their commercial value; in short, to declare that they shall be received and held as lawful money, and a legal tender in payment of all debts, public and private. They are in effect professedly issued to supply the place of money, and to furnish a circulating medium. Very clearly it seems to me that government has the same power, if the necessities of the case require it, to protect these notes from depreciation, and to enhance their value by making them a legal tender, as much as it has to prevent the debasement or counterfeiting of coin. What it creates it may protect by all suitable laws for that purpose, and by what means it will do so is especially a matter within the discretion of the law-making power.

I agree with the remark of Senator Sumner, who, in the discussion in the senate in respect to the act in question, said: "It is difficult to escape the conclusion that if congress is empowered to issue treasury notes, it may affix to these notes such character as shall seem just and proper, declaring the conditions of their circulation and the dues for which they shall be received. Grant the first power and the rest must follow." Confined to the act under discussion, and as a question of legislative discretion, I think

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this remark entirely correct. But this conclusion may not be readily admitted, and I will therefore proceed to state more fully the reasons on which I think it can be sustained. The power of congress to make these notes receivable for government dues, and payable to all public creditors who will voluntarily receive them, cannot be doubted.

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The debatable question is, whether they can be made by law of congress a compulsory legal tender in payment of public and private debts. The provision of the statute is, that they shall be lawful money and a legal tender in payment of all debts, public and private." Most clearly they are not money. Upon their face they are mere promises to pay money. Each of these bills or notes upon its face contains a promise on the part of the United States to pay to the bearer ten dollars.

Strictly, this promise calls for and can only be fulfilled by the payment of ten dollars, in gold or silver coin.

The word "dollars," printed on the face of these notes, means silver or gold coins, with the stamp of the United States authority thereon impressed, fixing their value and character.

This is the only known and legal standard of value in the United States. The dollar is the unit of value, and means, wherever the word is used or named in any contract, a piece of silver coin composed of 412 grains of standard silver, or gold of equal value, according to the standard of value fixed by law. This is indisputable.

The question then is: Can congress substitute a governmental promise to pay ten dollars, or any other medium of value or mode of payment of debts which shall be effectual in law to discharge a contract calling for money, and which confessedly means gold and silver coin? The act in question professes to do this. It substitutes a promise to pay money based upon the credit of the government for the actual payment of money.

This, I agree, can only be done by the sovereign autho

reign power.

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rity of the government, and involves the highest exercise of sovereign power. Congress possesses, I think, this soveBesides the powers to lay and collect taxes, duties, imposts and excises, to borrow money on the credit of the United States, and to provide for the punishment of counterfeiting the securities and current coin of the United States, hereinbefore considered, congress has power "to declare war." This is an unquestionable sovereign power, and binds the allegiance of every citizen; for the crime of treason will be committed by any citizen who shall resist by force any law of the United States, or adhere to their enemies, giving them aid and comfort, and congress has power to declare its punishment. The president and senate have power to make treaties, which also bind the nation and become its supreme law.

Congress has power "to raise and support armies." Under this power congress can provide for calling upon, impressing and compelling every citizen personally to aid in carrying on the war it has declared. This power includes any and every means adapted to the end of war, in the opinion and discretion of congress.

Congress has power "to provide and maintain a navy." Under this power it can take every ship of our citizens and appropriate it to the public use, to constitute a navy, and take any other means adapted to the use or object of a navy, and to maintain and support it. The power is absolute and unqualified, like the power to raise armies.

Congress has power also "to provide for calling out the militia to execute the laws of the Union, suppress insurrection, and repel invasion," and to provide for organizing, arming and disciplining the militia, when employed in the service of the United States.

It has power also to erect forts, magazines, arsenals, dock-yards, and other needful buildings for war purposes. The United States also is bound to guaranty to every state a republican form of government, and to protect