Quote Originally Posted by shikamaru View Post
The founding documents don't mention anything concerning "lawful money". In fact, it doesn't even use the term.

Coinage Act of 1792 uses the term "lawful tender".

"Lawful money" is an older term coming from England.
I agree that term was not used or defined in legal diction, but it was understood. My point is there was not the sheer ignorance (or outright lies) back then of what the term meant or would have meant and that meaning would have been recognized for generations if not thousands of years before the founding of the Republic.

Good grief, the reason Congress was forced into the District of Columbia was because it could not pay the Continental army (or rather would not redeem its private issued debt notes) in Gold or silver coin!

Do some research on the "Pennsylvania Mutiny of 1783". Ever hear the term "not worth a continental"?

Back then, nobody had any question what "lawful money" was nor what paper money was to be redeemed for. Today, that may not be the case. BUT to

conceive that in 1913 or 1933 the authors of 12-USC 411 did not know, without question, what "lawful money" is and was is an untenable position and ignores not only history and common practice and understanding but common sense as well.