The purposes of a bankrupt law are:
1. To secure an equitable distribution of all the debtor's property among the creditors.
2. To secure to the debtor a complete discharge from the indebtedness.
Clause 5.—Coinage and Measures.
To coin money,[1] regulate the value thereof[2] and of foreign coin,[3] and fix the standard of weights and measures.[4]
[1] This is another "sovereign power," and cannot be exercised by states, counties or cities. Coinage by the United States secures uniformity in value, and thereby facilitates business.
To "coin money" is simply to stamp upon a precious metal the value of the given piece. [Footnote: When metals were first used as money, they were weighed and their purity was determined by testing. This invited fraud.] For convenience in business transactions, these are coined of certain sizes. To discourage the mutilation of coins for sinister purposes, they are "milled" on the edges, and the stamp covers each face so that the metal could hardly be cut off without the coin showing defacement.
[2] The value is shown by the stamp.
[3] Otherwise, foreign coin would become an article of commerce, and it would be more difficult to regulate the value of domestic coin.
[4] This power congress has never exercised. But see Johnson's Cyclopedia, article Gallon.