The Coinage Act of April 2, 1792 This is an interesting copy of what is evidently the actual law that governs the coining of money. http://landru.i-link-2.net/monques/coinageact.html#(a)
It basically tells how the coining will be done and controlled. Shortcomings: - It does not give nearly enough information to be considered a Manufacturing Manual, Qualty Control Manual, Distribution Manual, Management Manual, Budget. Job Descriptions or Accounting Manual.
- All of those aspects of manufacturing and distribution should be considered and provided for. One can only wonder if such information has ever been made available within the government and if that information carries the force of law.
- It also does not tell why the act is being passed -- that is, what are the probable benefits of the act and what problems will be solved.
- It does not provide for contingencies -- what for instance will be done if the act does not solve the problems or provide the desired benefits. It gives no advice how success or failure of the act will be determined.
- It does not tell what will happen if it turns out that the supply of gold dries up or is cornered by some other country.
- It makes no mention of what will happen if the cost of mining or procuring gold rises or falls.
- It does not tell how the coins will be put into use -- will it be spent in -- or used to fund new debts created by the government -- or what?
- It makes no mention of the possibility of creating larger denominations of coins. Perhaps they could not imagine the future existence of super-large transactions in the multi-million or billion dollar range.
The report has historical value. Note the report as written here might not be complete. 1. Is there a Statute II . (only statute I is shown)
2. Are there sections 2 to 8? Only sections 1 and 9 are shown.
3. Are there other âActsâ( only The Coinage Act of April 2, 1792 and Act of May 8,1792. are shown
4. Have these acts been changed, repealed or superseded? |