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What part of the US Constitution gave Congress the power to coin money?
Dethslayr
Prior to the establishment of a more powerful federal government outlined in the United States Constitution, states and banks were printing their own currency. Having so many different currencies only served to hamper interstate commerce. The power to coin money was vested in the federal government for the purpose of creating a currency that applied to the entire country as opposed to individual states.
Wiki User
∙ 13y ago
Wiki User
∙ 6y agoThe alternative was for each individual state to produce their own money, which would have to be exchanged when traveling between states. The more practical option was for a unified national currency system.
Wiki User
∙ 13y agoIt gave the government the ability to raise money to pay off debt
Wiki User
∙ 9y agoArticle 1 section 8
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What is the power to coin money?
The power to coin money is an expressed power. This is a power that is provided to Congress in Article 1, Section 8 of the US Constitution.
The constitution gives the power to print money to?
Article I Section 8 of the United Constitution grants power to Congress to "coin money" and "regulate its value." In effect, The Department of the Treasury prints money under the authority of Congress.
Who can coin and spend money?
Congress has the power to coin money.
What power has the power to coin money?
The power to coin money belongs to the Federal government (Congress, specifically) according to the Constitution of the United States.
Does the Constitution forbid the individual states to coin money?
Yes, according to Article I, Section 10 of the United States Constitution, states are explicitly prohibited from coining money. This power is reserved solely for the federal government.
What is the portion of the U.S. Constitution that gives Congress the power to coin money commonly referred to as?
Currency Clause
The power that the contitution gives congres for foreign affairs?
Borrowing money and to coin money are the power given to congress for foreign affairs by the constitution.
What is the Legal power to print money called?
The power to coin money is an expressed power. This is a power that is provided to Congress in Article 1, Section 8 of the US Constitution.
Which type of power permitted Congress to create Greenbacks?
The type of power that permitted Congress to create Greenbacks is known as the "enumerated power." More specifically, it falls under the power to "coin money" granted to Congress by the U.S. Constitution in Article I, Section 8.
Who does the constitution give power to coin money?
The treasury department has the power to produce money.
How did the US Constitution solve the problem of the various types of money?
Before the ratification of the Constitution, each of the 13 colonies printed their own money. As you can imagine, this caused inflation and confusion. In Article I, Section 8, Clause 5, Congress is given the power to coin money. The States are denied this power in Sec. 10, Clause 1. So there became only one form of coin, issued by Congress.
Who has the powers to print and coin money?
The Treasury and US Mints.
