Incontestably the Missouri loan certificates are just such bills of credit.
Albert Beveridge: “Incontestably the Missouri loan certificates are just such bills of credit.”
Editor's note · Context
Beveridge asserts that Missouri loan certificates qualify as bills of credit, which are prohibited by the Constitution.
Share
More from Albert Beveridge
If this goes down, we shall immediately see attempted another act of Congress declaring that the President shall continue in office during life, reserving to another occasion the transfer of the succession to his heirs, and the…
The Virginians, on their part, found the giving of new notes a convenient way of canceling old obligations and thus piled up mountains of debt which they found hard to remove.
When we consult the common good, we consult our own." In such considerations were found the greatest security from an improper exercise of power.
It could borrow money, but could not levy taxes or impose duties to pay the debt.





