The Theory and Practice of Banking: A power point presentation

PURPOSE
“The thoughts of the
righteous are right-ruling,
The counsels of the wrong
are deceit.”
Proverbs 12:5 - ISR

What was being
reconstructed during the
period of
“Reconstruction”?
From Webster’s Dictionary, 1913 edition:
Re`con*struc"tion (-str?k"sh?n), n.
1. The act of constructing again; the state of being
reconstructed.
2. (U.S. Politics) The act or process of reorganizing the
governments of the States which had passed ordinances of
secession, and of reëstablishing their constitutional relations
to the national government, after the close of the Civil War.

Limits of Credit
PDF Page 314
“The true Limits of Credit may be seen by
the etymology of the word. Because all
Credit is a promise to pay or do
something in future: and that something,
whatever it may be, is the Value of the
promise. That “something” need not
necessarily be money. It may be
anything else. It may be a promise to do
something.”

THE THEORY AND
PRACTICE OF
BANKING
by
Henry Dunning
MacLeod, M.A.
Fifth Edition
Vol 1, 1892

PDF Page 30 Every sort and description
of Corporeal and
Incorporeal Property -
INCLUDING; Life, Liberty
and the pursuit of
Happiness - are
"Exchangeable Quantities:
. . . the Principles and
Mechanism of Commerce
in all its forms“.
Life,
Liberty
and the
pursuit of
Happiness

PDF Page 31 "measured",
"bought and
sold",
"exchanged
separately and
independently
of anything
else",
"measured in
Money".
A
“Quantity”
or
“Wealth”
can be;

PDF Page 32
" . . . (T)o discern what is
and what is not separate
and independent
Exchangeable Property:
requires a thorough
knowledge of some of the
most abstruse branches of
Law and Commerce."

PDF Page 33 "Wealth . . . depends
entirely upon Human
Wants and Desires:
that everything is
Wealth where it is
Wanted and
Demanded: and that it
is not Wealth where it
is not Wanted and
Demanded."

Questions:
Is “coveting” always
a “sin”?
1 Corinthians 12:31
“But covet earnestly
the best gifts; and yet
show I unto you a
more excellent way.”
In a republic with a
democratic process; to
whom has “wealth”
been endowed?
How does media stir
the demands of the
people?
Whose responsibility
is it to assure they get
what they pay for?

PDF Page 34
" . . . Labour in
Economics is any
exertion of Human
Ability or Thought
which is wanted,
demanded, and
paid for. . . . "

PDF Page 34
Socrates "exactly agrees"
with Aristotle who is said to
have defined "everything"
as "Wealth whose Value can
be measured in money, . . .
as exactly as if it were a
material chattel."
And, because "Wealth . . . is a general term
for Labour"; " . . . any exertion of Human
Ability or Thought which is wanted,
demanded, and paid for. . . . " is Labour.

PDF Page 36 and A QuestionIn this paragraph MacLeod
seems to equate rent with
wages and Personal Capital
with Education.
“ . . . The bulk of the
national revenue is
profit: and of that
profit the portion
which is merely
interest on Material
Capital probably does
not amount to one-
third. The rest is the
result of Personal
Capital, or, in other
words, of Education.”
If the author correctly
equates "Education" with
"Personal Capital", a
quantity of Wealth; Who
hold marketable title to a
student’s “intellectual
property” when his
education is funded with
the Federal Reserve
Bank's debt-based, fiat-
monetary system's
“notes”?

PDF Page 43
9. We have thus seen that
all ancient jurists include
abstract Rights of all sorts,
and among them Rights of
action, under the terms
Wealth, Goods, Chattels,
Property, and Merchandise.
But the subject is of such
great importance, and is so
little understood by lay
writers, that it will be of
use to say something more
about it.

PDF Page 44
It is exactly the same in every system of
Jurisprudence. In English Law, . . . A "Right of
action for a sum of money, termed a Debt or
Chose-in-action, is included under the terms
"Goods," "Chattels," "Effects." It is an article of
Merchandise or a Saleable Commodity. . . .
“All Obligations, Bills, Statutes, Recognizances,
Judgments, shall be as a Chattel in the executor. .
. . All Right of action to any personal action is a
Chattel."
English Law (Con’t)

PDF Page 44
"So Blackstone says -
'For it is to be
understood ... (...
Goods and Chattels) is
a term used to express
any property which,
having regard either to
subject matter or
quantity of interest
therein, is not freehold.'
Blackstone
on
Goods and
Chattels

Continued . . . A Question FREE''HOLD, a. That land or
tenement which is held in fee-
simple, fee-tail, or for term of life.
It is of two kinds; in deed, and in law.
The first is the real possession of such
land or tenement; the last is the right a
man has to such land or tenement,
before his entry or seizure.
Freehold is also extended to such
offices as a man holds in fee or for
life. It is also taken in opposition to
villenage.
In the United States, a freehold is
an estate which a man holds in his
own right, subject to no superior
nor to conditions.
Prior to 1913, what
was the definition of
“freehold”?
From Webster's
Dictionary, 1828
edition:

PDF Page 47 Commerce or Economics
consists of Six distinct
kinds of Exchange . . .
1. Material for Material
2. Material for Labour
3. Material for Right
4. Labour for Labour
5. Labour for Right
6. Right for Right
Exchange
"For anything
to be
Exchangeable it
is necessary
that some one
else should
want and
Demand it."

PDF Page 48 "And of the general science of
Economics the business of
Banking consists in the two
species of Exchange:
1. Money for Rights of action,
or Credit, or Debts
2. Right of action for another
Right of action: or one kind
of Credit or Debt for another
kind of Credit or Debt"

PDF Page 50
"PROPERTY" . . .
MEANS RIGHT, TITLE,
INTEREST, or
OWNERSHIP: . . . TO
CALL MATERIAL THINGS
LIKE LANDS, HOUSES,
MONEY, CATTLE, ETC.,
PROPERTY, IS AS GREAT
AN ABSURDITY AS TO
CALL THEM RIGHT,
TITLE, INTEREST, OR
OWNERSHIP!
What every
jurist needs
to know.
“The word
Property in
English
means a
Right and not
a Thing.”

Definitions
From Webster's Dictionary, 1828
edition:
ABSURD''ITY, n.
1. The quality of being
inconsistent with obvious truth,
reason, or sound judgment.
Want of judgment, applied to
men; want of propriety, applied
to things.
2. That which is absurd; in this
sense it has a plural; the absurdities
of men.
+ + + + + + + + + + + + +
A Dictionary of the English
Language - A Digital Edition of the
1755 Classic by Samuel Johnson -
Property.

PDF Page 231
"As the feudatary could not alien the
feud without the consent of the Lord, so
neither could the Lord alien or transfer
his seignory or superiority to another
without the consent of the feudatary.
For the obligations of the superior and
inferior were mutual and reciprocal . . .
as the Lord could not alien, so neither
could he exchange, mortgage, or
otherwise dispose of his seignory without
the consent of his Vassal. Again, as the
vassal or feudatary could not alien, so
neither could he devise or dispose of the
feud by will, or by any means (when
feuds were become hereditary) prevent
or vary the feudal course of succession."
31. “ ... Rights
held in Contract,
or Obligation are
of two kinds ...
(a) … Unilateral
Contract ...
(and)
(b) ... Bilateral or
Synallagmatic
Contract..”

Alienable
From the 1913 edition: Alienable . . . Capable of
being alienated, sold, or transferred to another;
as, land is alienable according to the laws of the
state.
From the 1828 edition: A''LIENABLE, a. That
may be sold, or transferred to another; as, land
is alienable according to the laws of the State.
From A Dictionary of the English Language 1755 by Samuel Johnson:
A'LIENABLE, adj. [from To alienate.] That of which the property may
be transferred.
Land is alienable, and treasure is transitory, and both must, at
one time or other, pass from him, either by his onwn
voluntary act, or by the violence and injustice of others, or at
least by fate. (Dennis's Letters).
Webster's
Revised
Unabridged
Dictionary
(1913 + 1828)

PDF Page 232
Questions
"So in the case of Master and Servant
. . . a master cannot transfer his
household to any one else without
their own consent, as if they were
cattle or slaves. . . . "
13th Amendment:
1. Neither slavery nor involuntary
servitude, except as a
punishment for crime whereof the
party shall have been duly
convicted, shall exist within the
United States, or any place
subject to their jurisdiction.
2. Congress (Democrats and
Republicans) shall have power to
enforce this article by appropriate
legislation.
Feudal Law
What is a
"Franchise"?
What does it
mean to be
“enfranchised”
and
"disenfranchised"?

PDF Page 237
Question
Given the aforementioned facts; What do you
suppose is/was the intent of the 14th
Amendment, Sections 4 and 5 under
“reconstruction”?
14th Amendment, Section 4.
The validity of the public debt of the United
States, authorized by law, including debts
incurred for payment of pensions and
bounties for services in suppressing
insurrection or rebellion, shall not be
questioned. But neither the United States
nor any State shall assume or pay any debt
or obligation incurred in aid of insurrection
or rebellion against the United States, or
any claim for the loss or emancipation of
any slave; but all such debts, obligations
and claims shall be held illegal and void.
5. The Congress (Democrats and Republicans)
shall have power to enforce, by appropriate
legislation, the provisions of this article.
Common Law of
England
" . . . (T)he source and
original of the Common
Law of England. . . . with
regard to the Sale of
Debts . . .
. . . Gaius, . . . published
a constitution in the year
224 A.D., by which the
absolute freedom of the
Sale of Debts without
the knowledge or
consent of the Debtor
was recognised and
allowed."

PDF Page 239
Webster's 1913 - Maintenance: 3. (Crim. Law)
An officious or unlawful intermeddling in a cause
depending between others, by assisting either
party with money or means to carry it on. See . .
. Champerty.
Champerty: 2. (Law) The prosecution or
defense of a suit, whether by furnishing
money or personal services, by one who has
no legitimate concern therein, in
consideration of an agreement that he shall
receive, in the event of success, a share of
the matter in suit; maintenance with the
addition of an agreement to divide the thing
in suit. See . . . Maintenance. . . . By many
authorities champerty is defined as an
agreement of this nature. From early times
the offence of champerty has been forbidden
and punishable.
Buying lawsuits
"It is customary . . . to
make the most of a
suit which they
commence with a
foreigner or . . . any
person who is not used
to law transactions: as
soon as they have any
advantage in the
process, they find
means to sell it to
certain persons, who
make a trade of buying
lawsuits."

PDF Page 245
Questions
In the U.S. has a Military Feud
been “created” by
appropriately legislating an
"all volunteer" (mercenary
force) under the Social
Security Number?
To whom has been given the
authority to grant this "force"
to Assigns?
“For many centuries after the
Conquest, England was
essentially a feudal and
military nation. Its Law also
was almost entirely feudal,
and related to the tenure of
land. . . . “
Military Feud
"A . . . Military Feud was, . . .
inalienable . . . But gradually .
. . relaxed, and Feuds were
created alienable and
saleable. . . .
Thus, . . . wherever the
Grantor created or
constituted the Feud
alienable, by granting it to
the Grantee and his Assigns,
it was assignable, and the
Assignee might sue the
Grantor in his own name.”

PDF Page 245 “The original contract
between Lord and Vassal was
Bilateral : because it involved
Rights and Duties on both
sides : and, consequently,
the Lord could not alienate
his seignory without the
consent of his Vassal : he
could not turn over, or
Attorn, as it was termed, the
homage or service of his
Vassal to another person
against his will : and if the
tenant refused to attorn, the
grant was void. . . . “
Feudal contract and
Attournment
ATTO'URNMENT - An
yielding of the tenant
to a new lord, or
acknowledgment of
him to be his lord; for,
otherwise, he that
buyeth or obtaineth
any lands or tenements
of another, which are
in the occupation of a
third, cannot get
possession.

PDF Page 246
Questions
When we "register" to vote are we voluntarily
transferring our "seigniory"?
If so, to whom are we transferring our
seigniory?
From Webster's 1913 edition: Seigniory . . .
1. The power or authority of a lord;
dominion.
. . .
2. The territory over which a lord holds
jurisdiction; a manor. [Written also
seigneury, and seignory.]
From Webster's 1828 edition: SEIGNIORY, n.
1. A lordship; a manor.
2. The power or authority of a lord;
dominion.
O''Neal never had any seignory over that
country, but what he got by
encroachment upon the English.
Seigniory
'If a vassal agreed
to the transfer of
seigniory, he was
said to Attorn to
the new seignor.
By this public
declaration he
recognised the
right of the new
seignior to his
homage or
service.'

PDF Page 246
Questions
Have Democrat and Republican
leaders been implementing the
rhetoric and policies outlined in
Henry George's 1879 book,
Progress and Poverty?
Has the Federal Reserve Bank,
"enforced by appropriate
legislation", implemented
George's policies through a
system of capitalizing land and
labor in the distribution of rent,
wages and interest?
(See previous PDF Pages 34, 47-48
and PDF Pages 47 and 83 of Anna
Bowman Dodd's 1887 book The
Republic of the Future, Or, Socialism a
Reality)
Progress and Poverty - Henry
GEORGE (1839 - 1897)
What I (Henry George) have
done in this book, if I have
correctly solved the great
problem I have sought to
investigate, is, to unite the
truth perceived by the school
of Smith and Ricardo to the
truth perceived by the schools
of Proudhon and Lasalle; to
show that laissez faire (in its
full true meaning) opens the
way to a realization of the
noble dreams of socialism; to
identify social law with
moral law, and to disprove
ideas which in the minds of
many cloud grand and
elevating perceptions.
(Summary by Henry George)

Why the
Confederacy
Failed
“PAPER MONEY”
By
Duncan Rose
Re-Published by Courtest of the
Century Magazine
The Cape Fear Press
Fayetteville, N.C.
Nov. 1896
Go to British History Online to
learn about emigration
(immigration) and the 18th
Century paper money schemes.
Revelation 17:18 “And the woman whom
you saw is that great city having
sovereignty over the sovereigns of the
earth.”

PDF Page 247
Rules of the Common Law of England relating
to the Transfer of Choses-in-action.

PDF Page 504
Question
For what purpose was the 1776
Declaration of Independence drafted
and submitted?
From whom was "separation" declared?
When in the Course of human events, it
becomes necessary for one people to
dissolve the political bands (Whigs and
Tories) which have connected them
with another (bankers and other
“Lords”), and to assume among the
powers of the earth, the separate and
equal station to which the Laws of
Nature and of Nature's God entitle them,
a decent respect to the opinions of
mankind requires that they should
declare the causes which impel them to
the separation.
Considering paragraph
43 ("The Bank of
England was a Whig
project . . . ") how do
you think political
parties are used by
bankers to support
their feudalistic
schemes?
To whom do we
transfer our seigniory
when we apply to
become politically
enfranchised?

Questions Considering the historical
information provided; in 1776,
on a scale of one to 10 (ten
being very confident), how
confident are you that the
"Lord", i.e., the "Creator"
mentioned in the second
paragraph of the Declaration of
Independence is the same as
the “God” mentioned in the
first?
What is the 1st commandment?
What
contributes to a
Bank's
downfall?
Paragraph 140:
"Unjustifiable
monopoly" and
"monopolising
selfishness".

PDF Page 414
The Lackawanna
Jurist
“There is an evident
confusion of two claims, the
nature and character of
which are very different.
One is of common law origin
sounding in contract; the
other is purely statuary and
quite independent of
contract. In one the issue is
the amount of profits actually
realized by an agent outside
of his own personal use and
enjoyment of the property; in
the other it is the rental
value regardless of any
actual income or rents
received.”

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