Money and Economics

I. Law Regarding Coin and Money:

Monetary Powers of the U.S. Constitution: Under Art. 1, § 8, cl. 5 of the U.S. Constitution, Congress is granted the power to coin money, and via Art. 1, § 10, cl. 1, the states are disabled from making anything but gold and silver coin a tender in payment of debt. This brief, about 18 years old now and in need of serious redrafting, covers a wide variety of state and federal cases addressing the monetary powers and disabilities contained in the U.S. Constitution. Perhaps this brief constitutes a decent introduction to this most important subject.

Antebellum Money Cases: There were a number of state court decisions regarding money prior to the War of Northern Aggression that are compiled in this long file. Interesting reading.

The Works of Dr. Edwin Vieira:

Dr. Edwin Vieira, Jr., is without question the most knowledgeable legal scholar regarding the monetary system of our nation. He has written many articles on the subject of money and the Federal Reserve System.

What is a Dollar: In this monograph, Edwin explains the "dollar" of the Constitution. This is a PDF file.  (Added 9-19-02).

The Forgotten Role of the Constitution in Monetary Law: This law review article, posted here in PDF, is a more detailed discussion of the "Dollar" of the Constitution. 

The Federal Reserve System as a Parasite: This is one of the monographs Edwin authored on behalf of the National Alliance for Constitutional Money.

Monetary Reform: This is an excellent treatise regarding the need for monetary reform; it is Vieira at his usual best! This is a PDF file. 

Constitutional Imperative: Edwin advocates, in times of economic troubles, we should start first with the Constitution to solve those problems. This is a PDF file. 

Edwin Vieira's Speech: Over Labor Day weekend, 1991, the NCBA had a convention in Denver. Franklin Sanders and I spoke there as did Edwin, who, as always, gave a great speech which you are invited to read.

II. Historical Works and Other Information:

De Moneta: Bishop Nicole Oresme, a mathematician, astronomer and economist who lived during the 14th century, wrote this work entitled "De origine, natura, jure et mutationibus monetarum", here translated from the French. This powerful work provides a glimpse of Medieval thought on the subject of coinage and money. 

The Royal Bank: The history of John Law's banking experience in 18th century France.

A Caveat Against Injustice: In 1752, Roger Sherman, author of Art. 1, § 10, cl. 1, of the U.S. Constitution, wrote this short treatise; it is a "must" read! (Added 9-16-02). Here is:

Freneau Editorial: Philip Freneau was editor of the National Gazette in the early 1790s and one of the editorials he wrote and published was entitled "Rules for Changing a Republic into a Monarchy," republished here, which was an amazing prediction of our future and the Federal Reserve System.

Panic of 1819: The Von Mises Institute is making available Murray Rothbard's great book about this panic. Download this PDF file now!

Short History of Paper-Money: In 1833, William M. Gouge, who opposed the 2nd Bank of the United States along with President Andrew Jackson, wrote an excellent book, A Short History of Paper-Money and Banking in the United States. It is now posted on Devvy’s website, linked here.

Bancroft's Plea: George Bancroft wrote this work in response to Supreme Court decisions regarding the money issue. You must read his booklet!

The Coming Battle: In 1899, M.W. Walbert wrote this book regarding our monetary system; this is a book you should read. It appears here as a PDF file. You may also order a reprint of this book from Paul Walter

The Federal Reserve Act: The 1913 Federal Reserve Act, 38 Stat. 251, is posted here as a PDF of the act itself. It is a large file, almost 3200 KB, so it will take a few minutes to download. 

1923 Congressional Record: In May, 1920, the Federal Reserve Board met and agreed to contract credit for the first time in its short history. A publisher of a newsletter, the Manufacturer's Record, obtained a copy of the transcript of that meeting and eventually the story about the meeting and its effect appeared in the Congressional Record for 1923. This file is a PDF of these pages from the Congressional Record; it is 2100 KB in size. I have also posted a text conversion of these pages here

McFadden's Speech: Congressman Louis McFadden spoke before Congress in 1933 about the evils of the Federal Reserve System and this file is a reproduction of his famous speech which was printed in the Congressional Record.

Great Myths of the Great Depression, by Lawrence Reed: This is an excellent explanation of the sinister events of the depression. It is a PDF file and will take a few moments to download.

Primer on Money: Congressman Wright Patman's banking and currency committee published this excellent work about money in 1964.  This link goes to this document posted on Devvy Kidd's website.

Econ Works: This site has some downloadable texts regarding economics and currency.

How Americans Lost Their Right To Own Gold And Became Criminals in the Process: This is an excellent law review article by Henry Mark Holzer. 39 Brooklyn Law Review 517 (1973).

Popp Cookie Jar: Read it.

III. Commentaries:

Borrowing Currency Into Circulation: This short memo discusses the adverse economic consequences resulting from the manner by which credit ("money") is created today.

Views of a Moneychanger: Franklin Sanders is a "moneychanger" having a wide variety of views regarding money, taxes and fighting governmental injustice. Here is a snapshot of some of his thinking. Visit Franklin's Moneychanger web  site. If you need specie, contact him.

Golden Sextant: Regie Howe has a good collection of articles regarding the gold standard.

Billions for the Bankers: Almost 20 years ago, Pastor Sheldon Emry wrote this short pamphlet explaining the operation of our banking system. This booklet needs wide circulation.

Fed: Myth or Reality? What does the Fed itself say about some of the matters posted above? Why don't you read this recent Fed publication and find out. Please also read the Fed's Modern Money Mechanics. How about an analysis of an old Fed publication? Read what SW Adams wrote years ago.

Ownership of money and the induction of value to money: Italian Prof. Giacinto Auriti shows that the Italians are thinking about some very basic points regarding money and credit.