money; then the "coining (creation)" of money would be just a minor problem. Bookkeepers could do that! The coining and regulating the value of money are responsibilities of Congress, delegated to Congress, and the Constitution nowhere gives them the authority to re-delegate that power. Those are the two most important functions of the Government, the creation of money, and the regulating the value thereof; and they are public services, which no private corporation could possibly render fairly, because profits would lead them to abuse the power. The other service the banks have been rendering, the lending of money, is not a public service, but a private right. Article I, Section 10; The Congress shall have power. . . to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures. There it is in black and white.
Amendment X: "The powers not delegated to the United States by the Constitution. . . are reserved to. . . the people" ; therefore Congress has no right to invade the lending of money, for that is a private right, reserved to the people. While the Constitution gave "Congress the power 'to borrow money on the credit of the United States," it nowhere gave the Congress the power to lend money. The founding fathers never dreamed that the United States would lend money. They empowered Congress to collect taxes, duties, imposts and excises to pay the debts of the Nation and to pay the expenses of the Government. Therefore, they could not contemplate the Government ever lending money — it would never have any money to lend, because all the money the Government would ever have would be taxes paid in by the people; and the Constitution specifically says that "The Congress shall have the power to lay and collect taxes. . . to pay the debts, and pay the expenses of the Government. So where would the Government get the money to lend? They never dreamed of Congress lending the Nation's Credit. They never thought of the credit of the Nation as being something to lend. They thought of the credit of the Nation as being the security it had to justify lenders to lend money to the Government. Had they understood