“As to the assumed authority of any assembly in making paper money, or paper of any kind, a legal tender, or in other language, a compulsive payment [Thomas Paine wrote in 1786], it is a most presumptuous attempt at arbitrary power. There can be no such power in a republican government: the people have no freedom, and property no security where this practice can be acted ...”

https://mises.org/mises-wire/what-has-fed-done-our-lives