Regulate the Value Thereof

What it means to regulate the value of foreign or domestic coin.

Amplify’d from

Vieira notes how the founders used precise linguistic wording in their
use of the phrases “fix the standard” and “regulate. . . value” and
subtly diverge in meaning:

The phrase “fix the standard” empowers Congress to
define the basic units of “Weights and Measures”; whereas, the phrase
“regulate the Value” empowers Congress only to apply the basic unit of
“Value”, which the constitution elsewhere explicitly identifies as the
“dollar”, a known, historically fixed weight of silver. Moreover,
whereas the verb “fix” as applied to “Weights and Measures” implies
“stability and confirmation”, the verb “regulate” as applied to coinage
implies continuous adjustment. . . the Framers. . . in one phrase
selecting the verb that connotes the establishment of permanent
“Standards”, without which a system of “Weights and Measures” cold not
serve its purpose; and, in the other, choosing the synonym that
connotes a process of inter-comparisons among changing forms of
coinage, according to a set “Money-Unit”, without which a monetary
system involving both gold and silver could not achieve its end.(26)

26. Vieira, pg 51.




Tags: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: