If the business conducted
by a trust lies entirely within the limits of a single State's
boundaries, then it must be regulated by State law.
III. THE MONEY of THE UNITED STATES.
Our National Currency.--Another of the most important powers of
Congress is that granted in the following clause:--
Article I, Section 8, Clause 5. _To coin money, regulate the value
thereof, and of foreign coin, and fix the standard of weights and
measures._
In civilized countries it is the practice of the government to furnish
the people a "circulating medium" for use in trade and commerce. Two
kinds of money are in use in the United States: (1) coin or specie; and
(2) paper money. The total amount of money in circulation in the United
States on November 1, 1910, was $3,124,679,057 or $35.01 _per capita_
for the whole population. We shall first consider the coins of the
nation.
How Coins Are Made.--The coinage of money takes place at the mints,
which are located at Philadelphia, Denver, New Orleans, and San
Francisco.
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