This $5.00 Federal Reserve "Note" is one of the original Fed Notes. Issued in 1914.
No claims of being "legal tender", the verbiage is very plain: AUTHORIZED BY FEDERAL RESERVE ACT OF DECEMBER 23, 1913
It's simply authorized by ACT. Argue with this statement and you argue against the authority. You wouldn't want to argue against the authority, would you? It was authorized by ACT, with a date and a seal.
Every rotten contract has a lot of fine print. Read carefully to understand what you're signing up for. Do you want to hold on to this "note" or do you want to redeem this "note" for $5.00 of gold or lawful money?
This is a five dollar gold coin from 1914. Technically, my five dollar "note" from 1914 is/was redeemable for this gold coin.
Oh but five silver dollars are so heeeeevy in your pocket, these notes are nice and light and fit the wallet perfectly. Gold can be stolen by thieves!
Then there's the fine print. Fine print, many words, assure the public of legitamacy. It's not until much later, they could just pronounce their notes as "legal tender". For now, they have explaining to do and assurances to issue.
"This NOTE is receivable by all national and member banks and Federal Reserve Banks and for all taxes, customs and other public dues."
This note is receivable. Well duh, anything is receivable if it's accepted! But why should it be accepted?
"It is redeemable in gold on demand at the Treasury Department of the United States in the city of Washington, District of Colombia or in gold or lawful money at any Federal Reserve Bank."
Here's the significant part, you can redeem this NOTE for gold or lawful money. The phrase "lawful money" is a way of saying "silver" without saying "silver". The bankers pour a glass of brandy and say "We don't want to remind the public of that which we are taking away from them."
This NOTE is similar to a "Silver Certificate", that it is redeemable for silver, but the word "silver" is mysteriously missing. Why? Because this NOTE is getting ready to replace silver. This began eight years later in 1922 when the mint began to discontinue minting "lawful money", that is the silver dollar coin. Silver half-dollars, quarters and dimes continued until 1964, but the majority circulating silver vanished in 1922. In order to sell the public that these "notes" have value, they had to be redeemable for "lawful money". Lawful money is silver, according to the Constitution of these United States of America.
No claim is made that this NOTE is lawful money, but that it is redeemable for lawful money. This NOTE is not "lawful". It is AUTHORIZED. Big difference.
When something is AUTHORIZED to be used in a manner that is not LAWFUL, is that LEGAL? I suppose all you need is an ACT and a date.
Eventually, you can just print "This note is legal". Nobody wants to read all that silly fine print. Here's the fine print a few decades later:
Let's shorten this:
Aaah, much better. Now it's just "legal"
On one side of the "fine print" is an image of Columbus with his hand on his heart, as if to say "trust me" this note is legit.
On the other side is an image of the pilgrims arriving at Plymouth rock. Images to invoke pride in our heritage and our founding in this land. The image of the little child, having just left the boat, is recorded on this fraudulent note, stealing the wealth and produce and labor of generations later.
The founders of this nation traded, borrowed, collected and forgave debts, exchanged and created a completely free market between neighbors. Trades were made by WEIGHT, not by pretty pictures and a number on a NOTE. The value was determined by quality and purity and was negotiable. But not this note. Non negotiable. It's $5.00. Good as gold... or lawful money.
It's worth five silver dollars, really... it's authorized by an ACT. With Honest Abe's image on the front.
The Federal Reserve (a private bank) promises that THE UNITED STATES OF AMERICA will pay to the bearer on demand FIVE DOLLARS.
So this NOTE is not FIVE DOLLARS, but an IOU $5.00 It's all good, check out this fancy SEAL:
The blue seal on this note is impressive and lends great authenticity to the appearance of this NOTE. Written in LATIN is "THESAUR AMER SEPTENT SIGIL" which is a shortened form of "Thesauri Americae Septentrionalis Sigillum" translated as "North American Treasury Seal" or "The Seal of the Treasury of North America"
I wonder what is meant by this? North American Treasury? Including Mexico and Canada? Was it assumed that all of North America would eventually utilize this treasury?
@lturner. Father of SIX wonderful children. The guy behind the camera. Blockchain enthusiast.
Bless the Most High!
We encourage parents to teach their children principles of Godliness, beginning with the Word and an understanding who God is and what His Son has done to form a relationship with us.
No one can lay a foundation other than the one already laid, which is Jesus Christ. If anyone builds on this foundation using gold, silver, precious stones, wood, hay, or straw, his workmanship will be evident, because the Day will bring it to light. It will be revealed with fire, and the fire will prove the quality of each man’s work. 1 Corinthians 3:11-13
Second to this is the principle of self-determination and freedom, lest we loose the ability to teach our children the first principle in future generations.
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