Article XVIII (18) of the Constitution of the Nation of Pacifica

Treasury, Banking, and Financial Services

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Article XVIII (18) of the Constitution of the Nation of Pacifica

Treasury, Banking, and Financial Services

Article XVIII (18): Treasury, Banking, and Financial Services

    Commmentary: Article XVIII (18) covers the Treasury, banking, and Financial services.

    [Documment Quotations:] Quoations in light gray from source documents are for reference only annd are not part of the Constitution of the Nation of Pacifica.

    This Constitution is a work in progress. To make comments, send e-mail to contact00@nationofpacifica.com.

Article XVIII (18): Treasury, Banking, and Financial Services

Section 1. [powers of Congress]

    Clause 1: The Congress shall have power to coin money, regulate the value thereof, and of foreign coin.

    [Constitution of the United States of America, Article I, Section 8, Clause 5:] The Congress shall have Power … To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

    Clause 2: The Congress shall have power to provide for the punishment of counterfeiting the securities and current coin of the Nation of Pacifica.

    [Constitution of the United States of America, Article I, Section 8, Clause 6:] The Congress shall have Power … To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;

Section 2. [limitations on Congress]

    Clause 1: No money shall be drawn from the Treasury, but in consequence of appropriations made by law; and a regular statement and account of the receipts and expenditures of all public money shall be published from time to time.

    [Constitution of the United States of America, Article I, Section 9, Clause 7:] No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.

Section 3. [Chancellor of Economic Affairs]

    Clause 1: The Chancellor of Economic Affairs shall be the chief executive of federal departments regarding economic affairs, budget, revenue, taxation, finance, the Treasury, banking, securities, insurance, financial services, and monetary policy. He or she shall hold his or her office during the term of ten years, and be elected by the people of the Nation of Pacifica.

    Clause 2: No person shall be elected to the office of the Chancellor of Economic Affairs more than once.

    Clause 3: The Congress may determine the time of voting for Chancellor of Economic Affairs; which day shall be the same throughout the Nation of Pacifica.

    Clause 4: The terms of the Chancellor of Economic Affairs shall end at noon on the 20th day of January, and the term of his or her successor shall then begin.

    Clause 5: Before he enter on the execution of his or her office, he or she shall take the following oath or affirmation:—“I do solemnly swear (or affirm) that I will faithfully execute the office of Chancellor of Economic Affairs for the Nation of Pacifica, and will to the best of my ability, preserve, protect, and defend the Constitution of the Nation of Pacifica.”

    Clause 6: Whenever there is a vacancy in the office of the Chancellor of Economic Affairs, the President shall nominate a Chancellor of economic affairs, budget, revenue, taxation, finance, the Treasury, banking, securities, insurance, financial services, and monetary policy who shall take office upon confirmation by a majority vote of both Houses of Congress. If the remainder of the term is less than three years, the new Chancellor of Economic Affairs may run for reelection once.

    Clause 7: The Chancellor of Economic Affairs shall, at stated times, receive for his or her services, a compensation, which shall neither be increased nor diminished during the period for which he or she shall have been elected, and he or she shall not receive within that period any other emolument from the Nation of Pacifica, or any of the states.

    Clause 8: Should the a 55% majority of the Senate vote no confidence in the Chancellor of Economic Affairs, the people shall vote on the Chancellor of Economic Affairs at the next election. If the sitting Chancellor of Economic Affairs receives the most votes, he or she shall continue to serve the remainder of his or her term. If another candidate receives the most votes, he or she shall become the new Chancellor of Economic Affairs and serve the remainder of the term. If the remainder of the term is less than three years, the new Chancellor of Economic Affairs may run for reelection once.

Section 4. [powers and duties of Chancellor of Economic Affairs]

    Clause 1: The Chancellor of Economic Affairs set policy regarding economic affairs, budget, revenue, taxation, finance, the Treasury, banking, securities, insurance, financial services, and monetary policy; and he or she may require the opinion, in writing, of the officers in the economic affairs, budget, revenue, taxation, finance, the Treasury, banking, securities, insurance, financial services, and monetary policy executive departments, upon any subject relating to the duties of their respective offices.

    Clause 2: The Chancellor of Economic Affairs shall nominate, and by and with the advice and consent of the Senate and the President sitting at the time of the nomination, shall appoint public ministers and consuls and all other officers of the economic affairs, budget, revenue, taxation, finance, the Treasury, banking, securities, insurance, financial services, and monetary policy executive departments, whose appointments are not herein otherwise provided for, and which shall be established by law: but the Congress may by law vest the appointment of such inferior officers, as they think proper, in the President alone, in the courts of law, in the Chancellor of Economic Affairs, or in the heads of departments.

    Clause 3: The Chancellor of Economic Affairs shall have power to fill up all vacancies that may happen during the recess of the Senate, by granting commissions which shall expire at the end of their next session.

    Clause 4: The Chancellor of Economic Affairs shall chair the Senate committees corresponding with economic affairs, budget, revenue, taxation, finance, the Treasury, banking, securities, insurance, financial services, and monetary policy.

    Clause 5: The Chancellor of Economic Affairs shall from recommend to Congress for consideration such measures as he or she shall judge necessary and expedient; and he or she shall take care that the laws be faithfully executed. The Chancellor of Economic Affairs shall appear before each House of Congress from time to time as determined by each House to give information on economic affairs, budget, revenue, taxation, finance, the Treasury, banking, securities, insurance, financial services, and monetary policy and answer questions from the members of each House.

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This Constitution is a work in progress. To make comments, send e-mail to contact00@nationofpacifica.com.