Republican (nationalist) President Abraham Lincoln, of the united States—without a constitutional amendment—signs the National Bank Act of 1863:
- Establishing the Office of the Comptroller of the Currency, which will issue federal charters to banks that invest one-third of their capital in federal debt obligations, which in turn can be used as collateral to issue irredeemable banknotes
- As federally chartered banks they are exempt from State regulation.
NOTE: The word “bank” does not appear in the Constitution for the united States.
[updated 2/22/2025] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
First Legal Tender Act, 12 Public Statutes at Large 345 (1862).
Calvin D. Linton, ed. The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 175.
Ron Paul swoons “Gimme’ Gimme’ Three Steps to SOUND MONEY” before CONgress!!
www.freedomsphoenix.com/Find-Freedom.htm?At=0082960&From=News
The Hard Truth of Hard Money
www.thenewamerican.com/index.php/history/american/516
The Federal Reserve and you
endthefednc.wordpress.com/
U.S. Banking Timeline
www.libertyforlife.com/banking/currency-us-timeline.html
Current U.s. National Debt:
