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7716RE: [tips_and_tricks] Re: Dollar sign/symbol

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  • Robert Mulder
    Mar 8, 2005
      The FDIC has a different opinion on this matter:
       
      "It is the opinion of the Secretary of the Treasury that Public Law 93-373 did not repeal or alter the so-called Gold Clause Resolution of 1933 (31 U.S.C. 463). The Resolution prohibits any contractual provision which purports to give the obligee the option of requiring payment of the obligation in money or a specified amount of gold. Deposit contracts which purport to give the bank's customer such an option are therefore rendered legally unenforceable by the terms of the Gold Clause Resolution. Contracts specifically payable only in gold may be similarly unenforceable where the parties to the contract view the gold as a medium of discharging a debt, such as a deposit liability, rather than as a commodity to be traded."
       
      -----Original Message-----
      From: gary [mailto:gary2666@...]
      Sent: Thursday, March 03, 2005 1:33 AM
      To: tips_and_tricks@yahoogroups.com
      Subject: Re: [tips_and_tricks] Re: Dollar sign/symbol

      The following gives the reference to when HJR 192 was repealed and what code sewction it used to be.  Should be easy enough for anyone interested to look it up.
       
      Gary
       
       Beginning in 1963, the words "redeemable in lawful money" and "will pay to the bearer on demand" were removed from future issues of Federal Reserve Notes: further reflecting the public policy stated in HJR-192. And, strangely enough, on October 28, 1977, HJR-192 was quietly repealed by public law 95-147. The joint resolution entitled "Joint resolution to assure uniform value to the coins and currencies of the United States" approved June 5, 1933 (31 U.S.C. 463), shall not apply to obligations issued on or after the date of enactment of this section.
      ----- Original Message -----
      Sent: Wednesday, March 02, 2005 2:21 PM
      Subject: Re: [tips_and_tricks] Re: Dollar sign/symbol



      On Mar 2, 2005, at 8:40 AM, Robert Mulder wrote:

      > Can you provide a reference for me for when/how this was repealed? 

      I saw it in the Stautes at Large while researching something else.   I
      want to say it was 1978, but I am only sure about it being sometime in
      the 1970's.

      >  And was the entire HJR-192 repealed, or just certain portions of it?

      I remember seeing in the margins, "HJR 192 Repealed".  I had a
      photocopy of the page, but it was stolen with some of my other files. 
      What I read seemed to repeal the prohibition in making contracts for
      payment in gold and silver.   It took up most of a page or more as I
      recall.

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