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  • Kar98

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    'train riding dollars'

    A term you might have heard your grandfather use. So what does it really mean? With the growth of the railroads came more and more passengers along the route. At that time there was Federal money printed by the US Govt and state money printed by the States. Since the trains traveled across the US thru many states they would only accept money that was Federal money as only it was accepted across the US. So to buy a ticket that took you across multiple states you had to have 'train riding dollars'...

    Bullshit.
    Target Sports
     

    Ole Cowboy

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    No, just because you're making stuff up doesn't make it true.
    So I am making it up, guess I am a LIAR, crawl back in your hole and talk to yourself, I did not make it up, you can call me a liar on here and get away with it cause you can be a big man behind a key board, but you lack the balls to tell that to my face...
     

    Ole Cowboy

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    And speaking of JERKS: You may have heard your granddad speak of 'jerkwater towns'.

    Back in the early days of trains they used a lot of water to generate steam, and as they could only go about 100-150 mi on what water they had in the tank they often found a creek and damned it up to create a pond where they would stop and fill the tank on the train with a bucket, jerking the water out of the pond. Sometime this would prompt the nearest little town to put up a tank next to the tracks, then the train would stop and the engineer would Jerk on a Chain to release the water in the tank to fill tank on the train. These little town became know as 'jerkwater towns'.
     

    Kar98

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    So I am making it up, guess I am a LIAR, crawl back in your hole and talk to yourself, I did not make it up, you can call me a liar on here and get away with it cause you can be a big man behind a key board, but you lack the balls to tell that to my face...

    Yup, you may believe it yourself, somebody may have told you that, and I see you posting that story on every board you're on, LOL, and it doesn't even make sense. I could call you a liar, or ignorant, you go and pick which you'd prefer.

    It's in the freaking CONSTITUTION, Article I Section 8, that Congress shall have the power to coin money, or delegate that task. Dollar and cent coins being of valuable metal back then, one dollar coin containing one dollar worth of precious metal made that issue moot for metal coins, and only currency in form of coins was accepted for payments. With me so far? Good.

    Paper currency in the form of banknotes was issued by privately owned banks; the notes being redeemable for specie at the bank's office. They were not legal tender. Such notes had value only if the bank could be counted on to redeem them. If a bank failed, its notes became worthless.

    National governments had in the past issued paper money and made it legal tender, but usually with at least the pretense that the notes would be redeemable for specie at some time. Continental dollars issued by the Continental Congress during the American Revolution had no such backing. They soon became almost worthless largely due to massive British counterfeiting of them as an act of war.

    During the early 1800s, the U.S. issued interest-bearing Treasury Notes in various denominations. These were not legal tender, but could be used to pay customs duties.

    From 1863 to 1935, National Bank Notes were issued by banks throughout the country and in US territories. Banks with a federal charter would deposit bonds in the US Treasury. The banks then could issue banknotes worth up to 90 percent of the value of the bonds. The federal government would back the value of the notes—the issuance of which created a demand for the government bonds needed to back them. The bank notes were, as the name "National" suggests, legal freaking tender in all US states and territories.

    See where it says "receivable at par in ALL parts of the United States" and "national currency"?

    gWiTj6w.jpg


    National Bank Notes were retired as a currency type by the U.S. government in the 1930s during the great depression as currency in the U.S. was consolidated into Federal Reserve Notes, United States Notes, and silver certificates; privately issued banknotes were eliminated.

    In conclusion:

    AwQr5hC.gif
     

    diesel1959

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    Yup, you may believe it yourself, somebody may have told you that, and I see you posting that story on every board you're on, LOL, and it doesn't even make sense. I could call you a liar, or ignorant, you go and pick which you'd prefer.

    It's in the freaking CONSTITUTION, Article I Section 8, that Congress shall have the power to coin money, or delegate that task. Dollar and cent coins being of valuable metal back then, one dollar coin containing one dollar worth of precious metal made that issue moot for metal coins, and only currency in form of coins was accepted for payments. With me so far? Good.

    Paper currency in the form of banknotes was issued by privately owned banks; the notes being redeemable for specie at the bank's office. They were not legal tender. Such notes had value only if the bank could be counted on to redeem them. If a bank failed, its notes became worthless.

    National governments had in the past issued paper money and made it legal tender, but usually with at least the pretense that the notes would be redeemable for specie at some time. Continental dollars issued by the Continental Congress during the American Revolution had no such backing. They soon became almost worthless largely due to massive British counterfeiting of them as an act of war.

    During the early 1800s, the U.S. issued interest-bearing Treasury Notes in various denominations. These were not legal tender, but could be used to pay customs duties.

    From 1863 to 1935, National Bank Notes were issued by banks throughout the country and in US territories. Banks with a federal charter would deposit bonds in the US Treasury. The banks then could issue banknotes worth up to 90 percent of the value of the bonds. The federal government would back the value of the notes—the issuance of which created a demand for the government bonds needed to back them. The bank notes were, as the name "National" suggests, legal freaking tender in all US states and territories.

    See where it says "receivable at par in ALL parts of the United States" and "national currency"?

    View attachment 146304

    National Bank Notes were retired as a currency type by the U.S. government in the 1930s during the great depression as currency in the U.S. was consolidated into Federal Reserve Notes, United States Notes, and silver certificates; privately issued banknotes were eliminated.

    In conclusion:

    View attachment 146312
    https://coinweek.com/paper-money-2/nevada-issued-paper-money/

    "Printed in both large and small formats, this paper money was issued up until 1935 when other types of currency replaced them in circulation. These notes were issued in States, Provinces, Territories, and even Indian Territories. A note would bear the name of the issuing bank as well as the city and state, province, or territory it was issued."

    nevada_note.jpg


    "Nevada bank notes are considered rare in collector’s eyes. Reno is the only common bank in the state and even Reno notes will fetch at least $1,000. Other towns or cities issuing bank notes in Nevada are Austin, Carson City, East Ely, Elko, Ely, Eureka, Goldfield, Lovelock, McGill, Rhyolite, Tonopah, and Winnemucca. Banks issued $5, $10, $20, $50 and $100 denominations, just as today.

    Two of these issuing banks have not been discovered by the collector’s community yet. Those are Rhyolite and Austin. To have one of either of these notes would mean a tremendous payday in the healthy six figures.

    When our country left the National Bank note system these notes went into receivership, meaning that as notes were turned into banks they were destroyed. In Nevada, many of the banks issued relatively few notes, and with years of receivership it is certain that most of the original notes have been lost forever.

    But a few still survive. If you are lucky enough to have a Nevada bank note it might be wise to check it out as I can pay between $10,000-$100,000 for many of the rarer Nevada notes, and there is a host of those that would be in the $40,000-$100,000 range.

    Not a bad return for a note forgotten about, saved, or lost for around the last 100 years."
     

    Ole Cowboy

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    Yup, you may believe it yourself, somebody may have told you that, and I see you posting that story on every board you're on, LOL, and it doesn't even make sense. I could call you a liar, or ignorant, you go and pick which you'd prefer.

    It's in the freaking CONSTITUTION, Article I Section 8, that Congress shall have the power to coin money, or delegate that task. Dollar and cent coins being of valuable metal back then, one dollar coin containing one dollar worth of precious metal made that issue moot for metal coins, and only currency in form of coins was accepted for payments. With me so far? Good.

    Paper currency in the form of banknotes was issued by privately owned banks; the notes being redeemable for specie at the bank's office. They were not legal tender. Such notes had value only if the bank could be counted on to redeem them. If a bank failed, its notes became worthless.

    National governments had in the past issued paper money and made it legal tender, but usually with at least the pretense that the notes would be redeemable for specie at some time. Continental dollars issued by the Continental Congress during the American Revolution had no such backing. They soon became almost worthless largely due to massive British counterfeiting of them as an act of war.

    During the early 1800s, the U.S. issued interest-bearing Treasury Notes in various denominations. These were not legal tender, but could be used to pay customs duties.

    From 1863 to 1935, National Bank Notes were issued by banks throughout the country and in US territories. Banks with a federal charter would deposit bonds in the US Treasury. The banks then could issue banknotes worth up to 90 percent of the value of the bonds. The federal government would back the value of the notes—the issuance of which created a demand for the government bonds needed to back them. The bank notes were, as the name "National" suggests, legal freaking tender in all US states and territories.

    See where it says "receivable at par in ALL parts of the United States"?

    View attachment 146304

    National Bank Notes were retired as a currency type by the U.S. government in the 1930s during the great depression as currency in the U.S. was consolidated into Federal Reserve Notes, United States Notes, and silver certificates; privately issued banknotes were eliminated.
    Read what you COPIED!!!!! And use you head instead of your fingers on that keyboard.

    Trains traveling across the US taking passengers would not take local currencies...DUH...hence the term 'train riding dollars' referred to monies that were good across the US, not in some band and some town in Richmond, VA.

    I heard that term from my dad who worked for railroad back in the 20's. Local currency is still common today, generally found at business, often referred to as Bonus Bucks etc. When I buy a ticket on an airline that I have air miles on, its buying with a currency only recognized by that airline I cannot take those miles to another airlines and spend them.

    Try thinking smart instead of ATTACKING folks without cause, your facts you copied are correct but your thinking is corrupt!!


    Idiom: a manner of speaking that is natural to native speakers of a language
    Every language has its own collection of wise sayings. They offer advice about how to live and also transfer some underlying ideas, principles and values of a given culture / society. These sayings are called "idioms" - or proverbs if they are longer. These combinations of words have (rarely complete sentences) a "figurative meaning" meaning, they basically work with "pictures".

    This List of commonly used idioms and sayings (in everyday conversational English), can help to speak English by learning English idiomatic expressions. This is a list, which contains exactly 66 of the most commonly used idioms and their meaning.

    Smart Idioms
    A hot potato
    Speak of an issue (mostly current) which many people are talking about and which is usually disputed

    A penny for your thoughts
    A way of asking what someone is thinking

    Actions speak louder than words
    People's intentions can be judged better by what they do than what they say.

    Add insult to injury
    To further a loss with mockery or indignity; to worsen an unfavorable situation.

    https://www.smart-words.org/quotes-sayings/idioms-meaning.html
     

    Kar98

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    Trains traveling across the US taking passengers would not take local currencies...DUH...hence the term 'train riding dollars' referred to monies that were good across the US, not in some band and some town in Richmond, VA.

    We are talking about actual, national bank notes here, not Schrute Bucks or Canadian Tire money, right? Your claim was that money issued by local, territorial or state banks was not accepted nationwide. Which is false.
     

    Ole Cowboy

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    Quoting YOU:

    "Paper currency in the form of banknotes was issued by privately owned banks; the notes being redeemable for specie at the bank's office. They were not legal tender. Such notes had value only if the bank could be counted on to redeem them. If a bank failed, its notes became worthless."

    This was common in the 1800's, this money was not good outside of the locale where it was issued, trains that ran across the US would not accept it local monies.. Just like my frequent flier miles are not good on other airlines OTHER than those that have a bilateral agreement.

    I will apologize that I made the assumption that you had some level of reading comprehension, common sense and were not the asshole and jerk you are. It's an idiom, even gave you the definition, examples and a link (just CLICK on it).

    PM me if you have any further comments or any issue with me I will be in DFW in a few weeks on business, I will be happy to discuss further!
     

    Kar98

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    Nothing in my posts quoted by you supports anything you claim. You're wrong, your pappy was wrong and whoever told HIM that story was wrong.

    Further, nowhere ever in literature, eyewitness account, song, folk tale, movie, stage play has any character ever been saying "hang on, I need to change my state bucks for federal money."

    Conversely, if you slap a stamp on a letter, it will get transported to any destination in the nation and the world.
     
    Every Day Man
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