If one googles, "mobley m milam us asst attorney" one may find some interesting pages to view regarding MILAM's past employment. It seems that it would have been the ultimate incompetent oversight for MILAM to not mention to his attorney that Title 12 USC 152 clearly defined what "lawful money" as it relates to Title 12:
Sec. 152. Lawful money reserve of associations issuing gold notes;
receiving notes of other associations
"Every association organized under section 151 of this title shall
at all times keep on hand not less than 25 per centum of its
outstanding circulation, in gold or silver coin of the United
States; and shall receive at par in the payment of debts the gold
notes of every other such association which at the time of such
payment is redeeming its circulating notes in gold coin of the
United States, and shall be subject to all the provisions of title
62 of the Revised Statutes: Provided, That, in applying the same to
associations organized for issuing gold notes, the terms ''lawful
money'' and ''lawful money of the United States'' shall be
construed to mean gold or silver coin of the United States; and the
circulation of such associations shall not be within the limitation
of circulation mentioned in title 62 of the Revised Statutes."
This may have been repealed in
1994, however, in 1974 it was still in full force. Why was this citation never brought up in the MILAM case? Apparantly, in 1974, MILAM could redeem his note in gold or silver coin. Was a former US Attorney and his legal team that absent minded to not cite §152 when the section relied upon for bringing the case (§411) exists in the same Title of US Code? Makes one wonder about this case and what exactly the purpose of pursuing it was. Precedent anyone???
If you had read my post, you would have seen this part, "then FRNs can be deemed "lawful" money -
just NOT in the context of the Title 12 citation (411)" so your comment in response, "rumor that government has declared or defined Federal Reserve notes "lawful money" is greatly exaggerated" is misguided except as it relates to §411.
'lawful money' can be a single phrase noun or a an adjective describing a noun, it all depends upon the one evoking it and how clearly one articulates one's intent.