FROM CONSTITUTIONAL TO FIAT MONEY: THE U.S. EXPERIENCE.

The article focuses on the history of currency question relating to monetary systems in the U.S. The author explores the two monetary systems that have existed in the U.S., namely the gold-silver standard or bimetallic standard that functioned from the 19th century to approximately 1914, and the U.S. Federal Reserve System which was initiated in 1913. The author emphasizes the stability and constancy of the dollar value, as well as its exchange value, during the bimetallic standard period. The pertinence of the U.S. Supreme Court case ''Hepburn v. Griswold in 1869 and its determination on the unconstitutionality of the use of greenbacks for payment of debts contracted before the passage of the Greenback Act in February, 1862 is addressed.