Well, if congress has power to alter men's contracts, after they are made, by altering the meaning of the word dollar, and thus reducing the value of the debt, it has a precisely equal power to increase the value of the dollar, and thus compel the debtor to pay more than he agreed to pay.
Spooner warns that if Congress can reduce the value of currency, it can also increase it, affecting debt obligations.
Share
More from Lysander Spooner
They do not tell us that they have established infallible supreme courts, to whom they refer all questions as to the legality of their acts, and that they do nothing that is not sanctioned by these courts.
They neither ask, nor expect, any mercy, if they should ever fall into the hands of honest men.
They do not attempt to deceive us, or mislead us, or reconcile us to their doings, by any such pretences, impostures, or insults as these.
They do not tell us that all liberty and order would be destroyed, that society itself would go to pieces, and man go back to barbarism, if it were not for the care, and supervision, and protection, they lavish upon us.