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Money and the Constitution
Do I have any readers who are lawyers or who study law? (Or who are on friendly terms with a lawyer and would forward them this article?)
I have some monetary questions related to the United States Constitution, specifically about the gold standard. I quote Article 1, Section 10, and color-code the parts I believe are relevant:
The purple text highlights the fact that the first paragraph, unlike the others, is absolute: The states are forbidden to do the things listed in the first paragraph whether Congress would permit them or not. The paragraphs are consecutive, so this must have been a deliberate decision; I cannot imagine this phrasing resulted from an editing oversight.
The blue text marks powers forbidden to the states, but explicitly granted to Congress by Article 1, Section 8.
The green text requires the states to adhere to a gold and/or silver monetary standard — but there's a slippery word here, "make". It clearly prohibits the states themselves from making anything but gold and silver legal tender, but today's Federal Reserve Notes are legal tender due to an act of Congress (31 U.S.C. §5103), not of the states.