9/2/2018 Martin V.

Mahoney

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Martin V. Mahoney was a participant or observer in the following events: Ordering 

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December 9, 1968 and After: Anti-Tax Lawyer Successfully Has   

Bank Seizure Set Aside, Contending that Bank Loans Have No Email Updates
‘Tangible Value’; Judge Rules Paper Money Has No Value
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Minnesota attorney Jerome Daly defends himself in a lawsuit filed by the First summarizing what contributors
National Bank of Montgomery, in a case later cited as First National Bank of have added to the History
Commons database
Montgomery v. Daly. The bank sues Daly in Credit River Township, Minnesota,
after foreclosing on his property for nonpayment of his mortgage, and seeks to Email Address Here   Go
evict Daly. Daly, a well-known anti-tax protester who has filed “protest” tax
returns in the past (see 1951-1967), argues that the bank never actually loaned Donate
him any money, but merely created credit on its books. Since the bank did not Developing and maintaining
give him anything of tangible value, he argues, the bank has no right to his this site is very labor
intensive. If you find it useful,
property. Both the jury and the Justice of the Peace presiding over the case, please give us a hand and
Martin V. Mahoney, agree, and declare the mortgage “null and void.” In his donate what you can.
ruling, Mahoney admits that the verdict runs counter to provisions in the Donate Now

Minnesota Constitution and some Minnesota statutes, but contends that such
provisions are “repugnant” to the Constitution of the United States and the Bill Volunteer
of Rights in the Minnesota Constitution. Mahoney finds in his ruling that all
If you would like to help us
Federal Reserve paper money has no intrinsic value. Initially, Daly retains his with this effort, please
right to the property and has his mortgage revoked, but the bank appeals the contact us. We need help with
programming (Java, JDO,
case and the verdict favoring Daly is reversed, as is a similar lawsuit brought by mysql, and xml), design,
Daly against another bank. The Minnesota Supreme Court begins proceedings networking, and publicity. If
against Mahoney and Daly for “constructive contempt” of the law. Mahoney’s you want to contribute
information to this site, click
death in 1969 voids the proceedings against him, but Daly is subsequently the register link at the top of
disbarred for his arguments, which the Minnesota Supreme Court finds entirely the page, and start
contributing.
fraudulent, “unprofessional,” and “reprehensible.” The case and its reasoning Contact Us
will be frequently cited in lawsuits challenging the US banking system,
particularly the practice of “fractional reserve banking.” The case has no value
as precedent, but will often be cited by groups supporting a government-owned
central bank or opposing the Federal Reserve system. [STATE OF MINNESOTA, COUNTY
OF SCOTT, FIRST NATIONAL BANK OF MONTGOMERY V. DALY, 12/9/1968  ; STATE OF MINNESOTA,
COUNTY OF SCOTT, FIRST NATIONAL BANK OF MONTGOMERY V. DALY, 1/12/1969  ; US DISTRICT
COURT FOR THE DISTRICT OF UTAH, 10/28/2008; MINNESOTA STATE LAW LIBRARY, 5/27/2010]
Entity Tags: Minnesota Supreme Court, First National Bank of Montgomery, Jerome
Daly, US Federal Reserve, Martin V. Mahoney
Timeline Tags: Domestic Propaganda, US Domestic Terrorism

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