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 (lawful money (gold and silver Coin)) 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.
[restored 2/23/2021] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
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:
