An Economic Interpretation
of the Constitution of the United States by Charles A. Beard, 1913, Edited Excerpts
The
protection of property rights lay at the basis of the new system. There is in
the Constitution no provision for property qualifications for voters or for
elected officials and representatives; however, nearly all of the state
constitutions then in force provided real or personal property qualifications
for voters. Only one branch of new government, the House of Representatives,
was required to be elected by popular vote.
The
House of Representatives springs from the mass of the people whom the states
may see fit to enfranchise. The Senate is elected by the legislatures of the
states, which were, in 1787, almost uniformly based on property qualifications.
The President is to be chosen by electors selected by the legislatures. The
judiciary is to be chosen by the President and the Senate, both removed from
direct popular control and holding for longer terms than the House.
The
taxing power was afforded the revenues that were to discharge the public debt
in full. Congress was given plenary power to raise and support military and
naval force, for the defense of the country against foreign and domestic
forces. These forces were to be at the disposal of the President in the
execution of national laws; and to guard the states against renewed attempts of
“desperate debtors” like Shays.
These
were the great powers conferred on the new government: taxation, war,
commercial control, and disposition of western lands. Through them public
creditors may be paid in full, domestic peace maintained, advantages obtained
in dealing with foreign nations, manufactures protected, and the development of
the territories go forward in full swing. Contracts are to be safe, and whoever
engages in a financial operation, public or private, may know that state
legislatures cannot destroy overnight the rules by which the game is played.
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