Matt R. Erickson
Monetary Laws of the United States, Volume I, offers a narrative discussion on America's monetary laws. From looking at America's early monetary laws before the Civil War, it is evident that only gold and silver coin are legal tender money in the United States. However, with implementation of legal tender paper currencies first in 1862, this solid legal foundation was threatened. Learn how the 1871 and 1884 supreme Court "legal tender cases" cleverly upheld the legal tender acts, but only for the district constituting the seat of government of the United States under Article I, Section 8, Clause 17 of the U.S. Constitution. Also learn how F.D.R. cleverly implemented gold 'confiscation' in 1933, but really only made a margin call on banks and bank shareholders who had a voluntary legal duty to send gold to the treasury to back their banking liabilities.
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