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Originally Posted by David Merrill
I agree completely with the somewhat subjective sentiments; but you say:
I beg to differ. The Legal Tender Cases, which I will likely upload with others into an article soon, support that under emergency - the War of Rebellion (Civil War), the printing of Notes is Constitutional. Of course in the actual theater of war, the Constitution is suspended. However some of the Executive Orders of the War Between the States are still in full force and effect. Anyway, the first sentence in your query quoted here is answered; the War of Rebellion established US Notes (greenbacks) are among the defined US currency.
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As Raoul Berger (and others) would say: "Where is it enumerated in the Constitution?"
The Supremes, are just as capable of being incorrect as anyone else. Especially in light of the history of the "Legal Tender" cases, with FDR "stacking the courts." Also, the Federalists and the Anti-Federalist papers should dispel this notion that emitting bills of credit are "constitutional." War or no.
"Given the clarity of the framers’ intention, it is on settled principles as good as written into the text. To “interpret” the Amendment in diametrical opposition to that intention is to rewrite the Constitution. Whence does the Court derive authority to revise the Constitution? In a government of limited powers it needs always be asked: what is the source of the power claimed? “When a question arises with respect to the legality of any power,” said Lee in the Virginia Ratification Convention, the question will be, “ Is it enumerated in the Constitution? . . . It is otherwise arbitrary and unconstitutional. 3 Elliot 186."
Berger, Raoul Berger. Government By Judiciary: Transformation of the Fourteenth Amendment. 1901. Ch. 23, p. 457, par. 2 (See Online edition <http://oll.libertyfund.org/index.php?option=com_staticxt&staticfile=show.php% 3Ftitle=675&layout=html#c_lf0003_footnote_nt_2204> )
Also, Executive Orders were a stretch by the Judiciary to "purport" constitutional authority.
And lastly, "currency," in commerce, is short-term financial instruments convertible into money within twelve months. As ALL financial instruments (paper) are "credit" instruments, i.e. "promises" by "promise" or by "order."
Money is "coin" and ONLY "coin." The etymology of money calls any assertion to the contrary "fraud" on its face.
As far as the endorsement "DEPOSITED FOR CREDIT OR EXCHANGED. . . ." I have been using this endorsement for almost five years. I have had an occasional "question" or two, but I respond "it is apart of "my" endorsement. And I can endorse on the "endorsement" line as I see fit or appropriate. And it gets negotiated without further incident.
BTW: "Public money" (sic) is defined as "government income from taxes."