Subject: [OPE-L:1900] Re: Re: Re: Re: Re: Re: the money supply
From: Allin Cottrell (cottrell@ricardo.ecn.wfu.edu)
Date: Sun Dec 12 1999 - 00:09:48 EST
On Sat, 11 Dec 1999, Duncan K. Foley wrote:
> The State might be able to force the coins to circulate
> using police power, but can it enforce their value?
They can raise the exchange value of coin by decreasing their
emission or increasing the tax liability. They don't need to
apply police power directly to enforcing the circulation of
debased coin, only to the prosecution of counterfeiters and tax
delinquents. (I assume they don't accept unminted metal in
payment of taxes.)
Allin.
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