What is a Dollar?
The Background    US ConstitutionCoinage Act 1792 & 1964  Federal Reserve Act
Federal Reserve Act●   USC Title 12 Chapter 3●   Enacted December 23, 1913●   Establishes The Federal Reserve System as   ...
USC Title 12 Chapter 3 Sub      Chapter XII Section 411●Federal reserve notes...shall be obligations of theUnited States.....
Federal Reserve Note (One         Dollar?)
Key Words to Define●   Note: a writing acknowledging a debt and    promising payment.●   Legal Tender: money that is lawfu...
US Constitution Article 1 Section 8To coin money, regulate the value thereof, and offoreign coin, and fix the standard of ...
Coinage Act of 1792●   Section 1: Establishes the US Mint regulating    the coins of The United States●   Section 9: Sets ...
Key Words to Define●   MONEY: Gold, silver, and some other less    precious metals...●   DOLLAR: money. A silver coin of t...
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What is a Dollar?

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What is a Dollar?

  1. 1. What is a Dollar?
  2. 2. The Background US ConstitutionCoinage Act 1792 & 1964 Federal Reserve Act
  3. 3. Federal Reserve Act● USC Title 12 Chapter 3● Enacted December 23, 1913● Establishes The Federal Reserve System as the central banking system for the United States.● Granted authority to issue Federal Reserve Notes as Legal Tender.
  4. 4. USC Title 12 Chapter 3 Sub Chapter XII Section 411●Federal reserve notes...shall be obligations of theUnited States...shall be redeemed in lawful money on demand at the Treasury Department of the United States
  5. 5. Federal Reserve Note (One Dollar?)
  6. 6. Key Words to Define● Note: a writing acknowledging a debt and promising payment.● Legal Tender: money that is lawfully accepted for payment of a debt or obligation...All legal tender is money but not all money is legal tender.● Redemption: to purchase back; to regain possession by payment of a stipulated price.● Lawful Money:...???? “see President Richard Nixon 1971.”
  7. 7. US Constitution Article 1 Section 8To coin money, regulate the value thereof, and offoreign coin, and fix the standard of weights and measures
  8. 8. Coinage Act of 1792● Section 1: Establishes the US Mint regulating the coins of The United States● Section 9: Sets that coins be minted of Gold, Silver, and Copper.● Section 9: Establishes the denominations and values for these coins as Eagles, Half Eagles, Quarter Eagles, and Dollars and Cents● Section 20: Money of Account for the United States to be expressed in Dollars
  9. 9. Key Words to Define● MONEY: Gold, silver, and some other less precious metals...● DOLLAR: money. A silver coin of the United States of the value of one hundred cents, or tenth part of an eagle.● EAGLE, money. A gold coin of the United States, of the value of ten dollars Source: Bouviers Law Dictionary 6th Edition 1856
  10. 10. Which do you want to have?
  11. 11. Get This Ebook Free at... www.accesspow.com

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