Quote:

---

First National Bank v. Daly

"Plaintiff brought this as a Common Law action for the recovery of the possession of Lot 19, Fairview Beach, Scott County, Minn. Plaintiff claimed title to the Real Property in question by foreclosure of a Note and Mortgage Deed which Plaintiff claimed was in default. The president of the First National Bank of Montgomery admitted that all of the money or credit which was used as a consideration for the mortgage loan given to the defendant was created upon their books, that this was standard banking practice exercised by their bank in combination with the Federal Reserve Bank of Minneapolis, another private bank, further that he knew of no United States statute or law that gave the Plaintiff the authority to do this. The money and credit first came into existence when they created it. It has never been doubted that a Note given on a Consideration prohibited by law is void. It has been determined, independent of Acts of Congress, that sailing under the license of an enemy is illegal.. The emmission of Bills of Credit upon the books of these private Corporations, for the purposes of private gain is not warranted by the Consitution of the United States and is unlawful. This Court can tread only that path which is marked out by duty. IT IS HEREBY ORDERED, ADJUDGED AND DECREED: 1. That Plaintiff is not entitled to recover the possession of Lot 19. 2. That because of failure of a lawful consideration the Note and Mortgage are null and void. 3. That the Sheriff's sale of the premises is null and void, of no effect. 4. That Plaintiff has no right, title or interest in said premises or lein thereon. 5. That the provision in the Minnesota Constitution and any Minnesota statute limiting the jurisdiction of this Court is repugnant to the Constitution of the United States and to the Bill of Rights of the Minnesota Constitution and is null and void."
-Judge Martin Mahoney, Credit River Township

Court order of judgment
www.lawlibrary.state.mn.us/CreditRiver/1968-12-09judgmentanddecree.pdf

---