The Power to Coin Money: Exercise of Monetary Powers by the Congress - Hardcover

Wilson, Thomas F.

Hardcover

ISBN 10: 0873327942 ISBN 13: 9780873327947

Publisher: Routledge, 1992

Synopsis

Using the metaphor of the socially constructed organization of space, this text takes a broad view of the evolution of urban America, from its historical roots to the present. It examines how policies respond to and affect the organization of space, and it looks to the future of American cities.

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From the Back Cover

This book traces the history from colonial times to the present of the monetary powers exercised by the Congress under the Constitution. It follows the evolution of the American banking and monetary system from the perspective of specific provisions in the Constitution that authorize the government to coin money and regulate its value. The author critically examines how far the development of the contemporary money and banking system has pushed beyond the narrow powers spelled out in the Constitution. He shows how changes in congressional legislation, Supreme Court decisions on precedent-setting cases, and the evolution of central banking powers within the Federal Reserve System have expanded the scope of the federal government's monetary powers. Yet, the author views this history within the context of private limits to the authority of Congress and the Congress's distrust of lodging the central bank within the Executive branch, preferring instead to respect an independent central banking tradition. The Hamiltonian tradition, he concludes, still offers the best institutional arrangement to confront unstable markets and destabilizing political influence.

Synopsis

Economist Wilson traces the history of the monetary powers exercised by the US Congress, from colonial times to the present. Among his themes are the unimagined growth of the banking industry and its regulation, Congress' distrust of letting the executive branch get its hands on banking, and the Hamiltonian tradition that is still the best stabiliz

Edition details

• Publisher: Routledge
• Publication date: 1992
• ISBN 10: 0873327942
• ISBN 13: 9780873327947
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 272