Quote Originally Posted by John Howard View Post
They shall be redeemed in lawful money on demand... I demand, therefore, I redeem.
Well certainly you are the moving force bringing the demand but you don't have the capacity to redeem only the trustee can perform the operation. Your are entitled to that benefit but you must first claim it. Therefore, I appreciate your comment but to say I demand and I redeem is not in my opinion correct. Absent a demand [claim] there cannot be a redemption. But with a demand [claim] there can be a redemption. But the Trustee - OFFICER - carries out the redemption.

Let me frame it like this. Years back you might hold a silver certificate that said pay to the bearer face value silver - or something to that effect. Now you would be holding a certificate but the Trustee holds the silver. You make a demand as Bearer for the silver UPON PRESENTMENT of the Certificate of Beneficial Interest = The silver certificatate; however, the Trustee must make the livery of the silver to you - UPON your exchange of the certificate and demand for the silver.

Or, you might just exchange the silver certificate in the market for other goods and services of equal face value. What did it take for you to get the silver from the Trustee holding the silver? - A demand upon the presentment that Bearer holds.