Noah Chaplin, 18, is a homeschool senior from a large military family of ten that currently lives in Fairborn, Ohio. Being a military brat, he has traveled through more than twenty-three states over the past ten years, either by moving or by vacationing. Due to high-functioning autism, Noah is very good at academics, excelling in subjects such as history and writing. History and writing, in fact, are his favorite subjects, as well as his aspiration to someday publish his own novel. Noah is currently taking dual enrollment courses at Cedarville University and plans to continue his education there in fall 2019 as a freshman; there, he will likely pursue a bachelor’s in computer engineering/science.

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  1. Ralph Thomas Howarth
    Ralph Thomas Howarth says:

    I took a keen interest in this essay having followed affairs and issues with the Federal Reserve for decades. Coining money is an age old function of states and it is the money supply that relatively impacts the interest rates as the price of borrowing money. The more coin is in the money supply in banks, then the lower the demand is for money from banks. This translates into cheaper loans by lower interest that in turn increases the demand for loans. What the natural course of money of increased money supply in banks normally from savings spurs investment in business. When banks autocratically increases money by creating it instead of from savings, then the value of coin in the hands of savers is deflated, and then prices relative to goods and services is inflated. When the Federal Reserve both manipulates the interest rate AND creates money, distortion of the money market and money devaluation occurs with the impact then borne on savings and investment.

    A1S10C1 also bans states from coining money BUT is permitted to declare any gold and silver coin as legal tender for paying debts. This is significant as the federal government may coin money to keep the value steady relative to a growing population (if population increases but money supply is held at a constant then the price of labor, and so the price of goods, go down) but states can look to foreign coin as a legal means to pay off debts on loans without having to undergo any currency exchange conversion first. This is where the federal grant to regulate coin, AND foreign coin comes in. The power to regulate literally means “to publish or make regular.” It is the duty of the federal government to publish the value of the coin it makes and the value of foreign coin that it is not permitted to make. The chief coin of the founding era was the Spanish Gold Milled Dollar as it was the international coin of trade in the Americas. Eventually the US minted its own coin and it was known as the US Dollar. So regulation of coin is the task of publishing the value of coin relative to foreign coin, and control of the domestic coin rests solely in the federal government’s power to mint domestic coin. Once more coin is minted then the value of domestic coin relative to foreign coin will change requiring the new value to be published. Interest rates then are supposed to be published according to how much money is in the banking system and not arbitrarily set; but rather a function of how much people are saving rather than buying goods.


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