Article 1, Section 8, Clause 2: Records of the Federal Convention

Article 1, Section 8, Clause 2

[Volume 2, Page 471]

Document 2

Records of the Federal Convention

[2:144; Committee of Detail, IV]

Power to borrow Money--

[2:168; Committee of Detail, IX]

. . . To borrow Money, and emit Bills on the Credit of the United States; . . .

[2:182; Madison, 6 Aug.]

To borrow money, and emit bills on the credit of the United States;

[2:303; Journal, 16 Aug.]

It was moved and seconded to strike the words "and emit bills" out of the 8. clause of the 1 section of the 7 article

which passed in the affirmative. [Ayes--9; noes--2.]

[2:569, 594; Committee of Style]

Sect. 1. The Legislature shall have power . . . To borrow money on the credit of the United States;

. . . . .

Sect. 8. The Congress . . . shall have power . . . (b) To borrow money on the credit of the United States.

The Founders' Constitution
Volume 2, Article 1, Section 8, Clause 2, Document 2
http://press-pubs.uchicago.edu/founders/documents/a1_8_2s2.html
The University of Chicago Press

Farrand, Max, ed. The Records of the Federal Convention of 1787. Rev. ed. 4 vols. New Haven and London: Yale University Press, 1937.