The Congressional power to borrow money on credit of the United States and to coin money have enabled the federal government to establish a national banking system, the Federal Reserve System, and specialized federal lending programs such as the Federal Land Bank.

Question

Quizplus · Accepted Answer

The powers to borrow money and to coin money, granted to Congress by the U.S. Constitution, have indeed provided the foundational authority for the establishment of the Federal Reserve System as the nation's central bank, as well as for the creation of specialized lending programs like the Federal Land Bank, which support various sectors of the economy.

The Congressional Power to Borrow Money on Credit of the United