Quote:
|
Originally Posted by amenmesse
The purpose of lawful money was to pass a complete title.
|
No, the expression "lawful money" exists only the 1862 law creating United States Notes. Gold and silver coin were not declared lawful money and, judging from the Trebil**** decision, United States Notes, declared to be lawful money, were not automatically convertible to gold. The expression is therefore applied only to paper money, evidently to show it had legality equal to gold and silver.