lanternlad wrote:If I'm not mistaken, its written on currency "This note is legal tender for all debts, public and private." I thought that meant that they have to take it.
That statement on the bill just means it is backed by the govt. and is sufficient for payment of debts (i.e. it is a universally accepted currency . But it does not mean it is the ONLY method of payment or that it has to be accepted. Think about bartering, If I wanted to trade my Ruger Vaquero pistol for your 1873 Winchester we could perform the whole transaction without cash. Or alternately I could pay you cash, for the rifle and in turn you could pay me for the pistol in gold bullion.