if left to the free and unchecked will of the Executive, would not be brought, in time, to bear on the presidential election, implies profound ignorance of that constitution of our nature, which renders governments necessary, to preserve society, and constitutions, to prevent the abuses of governments.
There was another departure during the same Congress, which was followed by important consequences; and which strikingly illustrates how dangerous it is for it to permit either of the other departments to exercise any power not expressly vested in it by the constitution, or authorized by law. I refer to the order issued by the, then, Secretary of the Treasury, Gen. Hamilton, authorizing, under certain restrictions, bank notes to be received in payment of the dues of the government.
To understand the full extent of the evils consequent on this measure, it is necessary to premise, that, during the revolution, the country had been inundated by an issue of paper, on the part of the confederacy and the governments of the several States; and at the time the constitution was adopted, was suffering severely under its effects. To put an end to the evil, and to guard against its recurrence, the constitution vested Congress with the power, "to coin money, regulate the value thereof, and of foreign coins," and prohibited the States from "coining money, emitting bills of credit, and making any thing but gold and silver coin a tender in payment of debts." With the intent of carrying out the object of these provisions, Congress provided, in the act laying duties upon imports, that they should be
