On the record
The States are prohibited to issue “bills of credit”; but there is no such prohibition on the National Government, which may do in the premises what the States cannot do.
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gutenberg.orgCharles Sumner: “The States are prohibited to issue “bills of credit”; but there is no such prohibition on the National Government, which…”
Editor's note · Context
Sumner points out that while states cannot issue bills of credit, the National Government has the authority to do so.
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