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What is a Dollar?
The Background



    US Constitution

Coinage Act 1792 & 1964

  Federal Reserve Act
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.
USC Title 12 Chapter 3 Sub
      Chapter XII Section 411


●Federal reserve notes...shall be obligations of the
United States...shall be redeemed in lawful money
  on demand at the Treasury Department of the
                  United States
Federal Reserve Note (One
         Dollar?)
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.”
US Constitution Article 1 Section 8




To coin money, regulate the value thereof, and of
foreign coin, and fix the standard of weights and
                     measures
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
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: Bouvier's Law Dictionary 6th Edition 1856
Which do you want to have?
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What is a Dollar?

  • 1. What is a Dollar?
  • 2. The Background US Constitution Coinage Act 1792 & 1964 Federal Reserve Act
  • 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. USC Title 12 Chapter 3 Sub Chapter XII Section 411 ●Federal reserve notes...shall be obligations of the United States...shall be redeemed in lawful money on demand at the Treasury Department of the United States
  • 5. Federal Reserve Note (One Dollar?)
  • 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. US Constitution Article 1 Section 8 To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures
  • 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. 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: Bouvier's Law Dictionary 6th Edition 1856
  • 10. Which do you want to have?
  • 11. Get This Ebook Free at... www.accesspow.com