The Legal Tender Exception
- How the Bankers Screwed Lincoln's Greenbacks -
"Much has been made of the fact that these so-called "Lincoln Greeenbacks" depreciated in the course of time, relative to gold. But these notes bore upon their face this legend: "this note is a legal tender at its face value for all debts, public and private, except duties on imports and interest on the public debt." Thus the government itself had to go to bankers to buy from them gold with which to pay the interest on the national debt. And importers had to go to the same bankers to secure money - other than greenbacks - with which to pay their import duties. The bankers interest in bringing about the depreciation of this government money will be obvious to any fair-minded person. In any case, due to the exception clause appearing on these "greenbacks" all the bankers had to do was to demand from the government and from the importers more than a dollar in greenbacks before they gave a gold dollar in exchange."
Rep, Jerry Voorhis, Out Of Debt, Out Of Danger, 1943
Amongst the great books featured at PublicCentralBank.com is one written in 1943 by congressman Jerry Voorhis (whom Richard Nixon defeated in a red-baiting smear campaign). In his book Out Of Debt, Out Of Danger, he pillories the private central banking system that is the scourge of our country and the world.
As the History Of Money site explains: "On the 12th of April 1861 this economic war began. Predictably Lincoln, needing money to finance his war effort, went with his secretary of the treasury to New York to apply for the necessary loans. The money changers wishing the Union to fail offered loans at 24% to 36%. Lincoln declined the offer. An old friend of Lincoln, Colonel Dick Taylor of Chicago was put in charge of solving the problem of how to finance the war. His solution is recorded as this. "Just get Congress to pass a bill authorizing the printing of full legal tender treasury notes... and pay your soldiers with them and go ahead and win your war with them also." When Lincoln asked if the people of America would accept the notes Taylor said. "The people or anyone else will not have any choice in the matter, if you make them full legal tender. They will have the full sanction of the government and be just as good as any money; as Congress is given that express right by the Constitution."
The bankers sabotaged this constitutional strategy by, first, inserting the clause excepting import duties and interest on the national debt and, second, by having Lincoln assassinated via a known Rothchild agent, John Wilkes Booth. As John E. Kovacs states "President Lincoln dared to have the U. S. issue its own greenbacks, backed with the full faith of the government, and bypass the central bankers avoiding any interest payments to them. For this patriotic act he was killed by John Wilkes Booth, a Rothschild agent and contract killer, who was later spirited away to England where he lived out his life comfortably on a pension provided by the Rothschild bankers. The greenbacks were immediately stopped and called in and redeemed at a ridiculous low price set by the central bankers."
So the attempt by Lincoln to circumvent the bankster's monopoly on money and credit creation was sabotaged by a simple insertion into the language of the legal tender law change - a mistake we will not make in the future, I presume. The coming "greenback" issue of the future must be full legal tender, or, in the event of necessary debt repudiation, specifically excluding payment for unconstitutional private central bank interest-bearing bond instruments.