War Democrat (constitutionalist) de facto President Andrew Johnson (a resident of the confederate State of Tennessee) signs the Contraction Act, setting a schedule for retiring irredeemable “Greenback” Notes with debt obligations of the united States Treasury.
[restored 4/24/2022]
Subsequent Events:
Authority:
Article I, Section 8 [Clause 2]
ccc-2point0.com/constitution-for-the-united-states
References:
Contraction Act, 14 Public Statutes at Large 31-32 (1866).
Contraction Act of 1866 – Wikipedia
en.wikipedia.org/wiki/Contraction_Act_of_1866
Current U.s. National Debt:
