It is not doubted that the power to establish a standard of value, by which all other values may be measured, or, in other words, to determine what shall be lawful money and a legal tender, is in its nature, and of necessity, a governmental power.
Spooner discusses the inherent governmental power to define currency and its implications.
Share
More from Lysander Spooner
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.
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 do not carry their heads high, above all other men, and demand our reverence and admiration, as statesmen, patriots, and benefactors.