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Congress recognized the need for specialized action
5 Similar approaches were tried to foster liquid
duced by elimination of gold as a control device
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12 Wallace 48 Stat acceptability action adjustment affecting the money Articles of Confederation asserted bank's bills of credit Charles Pinckney charter circulating notes coinage commercial concern Congress Congress's authority Constitution contract Court created deposit-check money deposits dollar economic effect Farrand Federal Reserve Act federal reserve banks Federal Reserve Board federal reserve notes Federal Reserve System fiscal framers free-banking Friedman and Schwartz functions fund goals Hamilton Hammond Hepburn interest Jonathan Elliott Juilliard Knox Krooss law's legal tender legal-tender status legislation legitimacy legitimate limited liquidity Luther Martin Madison ment monetary policy money stock money supply money system money tokens monopoly nineteenth century nomic note issues Nussbaum operations paper money payment practice promote public policy Redlich regulating money role second bank specie standard statute supra system of money taxes tion transactions Trescott United States notes Veazie Bank W. B. Smith Wallace 457