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Resource(s)
on Money
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Topic:
Money |
| Annotation:
The federal government is responsible for the national currency and the national budget, and may establish punishment for counterfeiters. Expenditures must be authorized by Congressional appropriations. States are prohibited from coining their own money.
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Citation
and Text from the Constitution:
Article 1, Section 8, Clause 2
(The Congress shall have Power) To borrow Money on the credit of the United States;
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Article 1, Section 8, Clause 6
(The Congress shall have Power) To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;
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Article 1, Section 9, Clause 7
No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.
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Article 1, Section 10, Clause 1
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
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