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The very day that the two appointees were nominated, the Supreme Court announced its decision in Hepburn v. Griswold (1870), a case that involved the constitutionality of the Legal Tender Act of 1862.
The court, in a 5 3 vote (including a vote for the majority by the ailing Grier), struck down the Legal Tender Act, thus denying Congress the power to issue paper currency as legal tender.
The legislation, called the Legal Tender Act of 2011, was inspired in part by Tea Party supporters, some of whom believe that the dollar should be backed by gold or silver and that Obama administration policies could cause a currency collapse.
Thereafter, during the ensuing regular session, came the Legal Tender Act (authorizing the issuing of paper money, or "greenbacks"), the act abolishing slavery in the District of Columbia, the Homestead Act, a second Revenue Act, the Pacific Railway Act and the Morrill Land Grant Colleges Act, among other measures.
He also criticizes Abraham Lincoln for "taking the United States down the road to political control over the nature of money via the Legal Tender Act of 1862," which authorized the federal government to pay its bills in paper money not backed by an equal amount of gold or silver.
Former Georgia state Rep. Bobby Franklin introduced the "Constitutional Tender Act" in 2010, which would have required Georgians to pay their state taxes in gold and silver.
Similar(48)
If the paintings can be seen as tender acts of cajolery, they were, one suspects, as much for Kippenberger himself as for anyone.
They are gentle, tender acts of acknowledgment and trust, like all good gentlemanly kisses.
The Act limited the notes (later known as "greenbacks") to $150 million, but two subsequent Legal Tender Acts that year expanded the limit to $450 million.
Another watershed was the legal-tender act under Abraham Lincoln, which paved the way for an acceptance of deficit spending.
His tender, impetuous Act 1 aria, in which he longs for return to Venice from exile, stood out.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com