Ferdinand Pecora is no longer with us.
The spiritual and moral landscape of the country is again littered with the rot and decomposition of licentiousness business excess while the stench of a permissive corporate morality hangs as a great pall over our culture, our communities, and our politics. But we have been to this place before and as a nation have a great experience that can now be called upon. The time has come to resurrect a past American hero, a man who a short time ago seemed irrelevant and forever lost to American history.
"It is a cruel thought, that, when we feel ourselves standing on the firmest ground in every respect. the cursed arts of our secret enemies, combining with other causes, should effect, by depreciating our money. what the open arms of a powerful enemy could not." --Thomas Jefferson to Richard Henry Lee, 1779. ME 4:298. Papers 2.298
In January 1817, the Second Bank of the U.S. Received its charter for twenty years. The paper notes of the bank were not declared a general legal tender but were acceptable for all government payments, including taxes. Remember this was the formula used by the privately owned Bank of England and by the First Bank of the U.S.. The conscious element among the bankers are aware that this is the essential defining characteristic of money. The bank would handle payments destined for the government and keep the government's accounts.