Summary

Peter Vivian Daniel United States v. Marigold — Opinion of the Court

If the medium which the government was authorized to create and establish could immediately be expelled, and substituted by one it had neither created, estimated, nor authorized,-one possessing no intrinsic value,-then the power conferred by the Constitution would be useless,-wholly fruitless of every end it was designed to accomplish.
Source: Wikisource

Peter Vivian Daniel United States v. Marigold — Opinion of the Court

Whatever functions Congress are, by the Constitution, authorized to perform, they are, when the public good requires it, bound to perform; and on this principle, having emitted a circulating medium, a standard of value indispensable for the purposes of the community, and for the action of the government itself, they are accordingly authorized and bound in duty to prevent its debasement and expulsion, and the destruction of the general confidence and convenience, by the influx and substitution of a spurious coin in lieu of the constitutional currency.
Source: Wikisource

Peter Vivian Daniel United States v. Marigold — Opinion of the Court

It was also said by this court, that the fact of passing or putting off a base coin did not fall within the language of those clauses of the Constitution, for this fact fabricated, altered, or changed nothing, but left the coins, whether genuine or spurious, precisely as before. But this court have nowhere said, that an offence cannot be committed against the coin or currency of the United States, or against that constitutional power which is exclusively authorized for public uses to create that currency, and which for the same public uses and necessities is authorized and bound to preserve it
Source: Wikisource

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