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"Salmon P. Chase, on the $10,000 bill, was an old Abolitionist lawyer and politician (from the pre-Republican Liberty Party). As it happened, he was appointed by Abraham Lincoln to be Secretary of the Treasury and was responsible both for the introduction of federal paper money during the Civil War and for the motto "In God We Trust," which was introduced on the coinage at that time (but which did not appear on currency until 1957). In 1864 Chase was appointed Chief Justice of the United States Supreme Court, and in that capacity he ruled that the "Legal Tender" United States Notes had unconstitutionally voided private gold obligations previously contracted (Hepburn v. Griswold, 1870). Later his decision was reversed (Knox v. Lee and Parker v. Davis, 1871) with the help of politically reliable justices appointed by President Grant, opening the way for future use of fiat paper money and the wholesale voiding of private and public gold obligations by the New Deal court (Norman v. Baltimore & Ohio Railroad Co., Nortz v. United States, and Perry v. United States, 1935). The largest collection of $10,000 bills, 100 (Series 1934) to make for a total value of $1,000,000, used to be on display at Binion's Horseshoe Casino in Las Vegas, Nevada [one note shown right] -- probably not the kind of place that Salmon P. Chase would have approved of. The collection, however, was sold (January 2000) and has now (June 2000) been broken up for individual sale. This sad outcome seems to be the result of deaths and financial disputes in the Binion family. " - Friesan.com View Image Here
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| Posts: 17300 | Location: Lincoln Place, Granite City, IL, USA | Registered: 06-03-02 |    |
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