Old Book shows how Constitutional money system worked

[LostPosterity]

I wanted to bring this to the attention of the people here studying money.

Go to archive.org

and search for the Book called 'Coin's Financial School'. By Coin Harvey

Enjoy! At one time, this book was bestseller 2nd only to the Bible and now is almost unknown. This book shows the simple beauty of the original Constitutional Money System and the first legislative departure from it. He has a couple other books published. One was just called 'The Book' that was written after the Fed was established - really hard to find.

[David Merrill]

I wanted to bring this to the attention of the people here studying money.

Go to archive.org

and search for the Book called 'Coin's Financial School'. By Coin Harvey

Enjoy! At one time, this book was bestseller 2nd only to the Bible and now is almost unknown. This book shows the simple beauty of the original Constitutional Money System and the first legislative departure from it. He has a couple other books published. One was just called 'The Book' that was written after the Fed was established - really hard to find.

Wow! Who knew?


Thanks a lot; and welcome.


Click Here.

[Treefarmer]

Thank you LostPosterity; looks like an interesting read. I look forward to checking it out.
And thank you for the convenient link David.

[Life's-a-Psyop]

Great find!

[LostPosterity]

There is more interesting reading if you search for "AFN McFadden" in Google. You can also search for "McFadden 1932" or "McFadden 1934".

Another thing you can do is get the old banknotes (low quality are available from coin shows and ebay) and read the fine print on those. Series 1913, Series 1963 US Notes, Pre 1913 Demand Notes, etc.

If anyone else has any interesting information about this subject, please post a reply.

http://www.youtube.com/watch?v=vcQElYhRvpY

http://www.youtube.com/watch?v=yYviBBV3Qj8

[Rock Anthony]

I've only made to page 36 of Coin's Financial Schoolwiki, and already I find the book to be absolutely fascinating! Nice find, LostPosterityuser!

[Brian]

I've only made to page 36 of Coin's Financial Schoolwiki, and already I find the book to be absolutely fascinating! Nice find, LostPosterityuser!

Stunning Book! Just finished reading it and so much of it forms the base upon which the current crap was constructed.
The galactic elephant in the room is this: The Coinage act of 1792 fixed what a dollar is according to the Constitution. A "Dollar" is mentioned 2 times in the Constitution and Bill of Rights. (Article1 section 9, and the 7th amendment).

Every "act" of CONgress since then purporting to change the "dollar" is a fraud is it not? The only way the definition of "dollar" can be changed is via amendment to the constitution. Am I right or wrong?

[Rock Anthony]

Stunning Book! Just finished reading it and so much of it forms the base upon which the current crap was constructed.
The galactic elephant in the room is this: The Coinage act of 1792 fixed what a dollar is according to the Constitution. A "Dollar" is mentioned 2 times in the Constitution and Bill of Rights. (Article1 section 9, and the 7th amendment).

Every "act" of CONgress since then purporting to change the "dollar" is a fraud is it not? The only way the definition of "dollar" can be changed is via amendment to the constitution. Am I right or wrong?

See section 8 of Article One of the United States Constitutionwiki:

To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures;

A 'dollar' is a unit of measure. It is definitely within the powers of Congress to change the definition of the dollar.

And while the Constitution grants to US Congress the power to define the dollar, the dollar is not defined within the US Consitution. The definition of the dollar is defined through acts of Congress. Therefore, no amendment to the Consitution is needed to meddle with the definition of the dollar.

[motla68]

I believe the value of a dollar is justly agreed upon when used at the checkout counter or used as coaster for your beer mug or hot chocolate. Some people even like to roll it up and snort stuff through it or worse. I can exchange at one rate for a can of whole tomatoes at one store and exchange at another rate at another store for the same can of tomatoes.

[shikamaru]

I believe the value of a dollar is justly agreed upon when used at the checkout counter or used as coaster for your beer mug or hot chocolate. Some people even like to roll it up and snort stuff through it or worse. I can exchange at one rate for a can of whole tomatoes at one store and exchange at another rate at another store for the same can of tomatoes.

The value of the dollar in the cases you provided is being expressed as a medium of exchange.
The corollary of medium of exchange is unit of account.

You've also touched upon price-value theory.

A reserve currency serves as support for a derivative.
Banknotes, historically, derive their value from a reserve currency.

Another interesting read: A History of Money and Banking in the United States: The Colonial Era to WWII by Murry N. Rothbard courtesy of mises.org.