Sailor Steve |
09-05-13 01:10 PM |
Quote:
Originally Posted by CaptainHaplo
(Post 2110269)
US currency is not controlled by the government. The US Federal Reserve is a private holding, not a public (aka governmental) one.
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Not so. The Federal Reserve is governed by a group of seven Governors appointed by the President of the United States and confirmed by the Senate. It is an independent Federal Agency, but a Federal Agency nonetheless. The Governors are independent members of the financial community, but they may be removed by the President for specific causes.
An act of Congress dated January 18, 1837 states that only Congress may prescribe the "mottoes and devices" that are placed on US coins.
The earliest use of the phrase appeared in the fourth verse of Francis Scott Key's poem Defense of Fort McHenry (aka The Star-Spangled Banner) as "And this be our motto: 'In God is our trust.'"
"In God We Trust" was first used on the battle-flag of the 125th Pennsylvania Infantry at the Battle of Antietam on September 17, 1862.
In 1864 Congress authorized the Mint to place the motto on one-and-two-cent coins. Historians for the most part believe this was at least partly to claim that God was on the side of the Union. Religious beliefs are used to govern political motivations, a definite mixing of Church and State.
The Coinage Act of 1873 states that the Secretary of the Treasury may place the motto on coins.
In 1956, as has been mentioned, "In God We Trust" became the official United States motto, again as a political/religious statement against the "Godless Communists".
So the slogans that go on our coins are dictated directly by Congress.
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