You must not be familiar with the history of the Continental Dollar. There were colonial issuances of banknotes that were also highly inflationary and ultimately counterproductive.
The Constitution grants no authority to print money.
The ban on the issuance of federal paper money is another casualty of the Civil War. The constitutionality of Greenbacks was denied in Hepburn v. Griswold. There were two vacancies on the Supreme Court, which newly-elected President Grant filled with paper money proponents. Soon after their nominations were approved by the Senate, the Supreme Court reversed itself in Knox v. Lee.