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    Townsend Plan Ezeemunny Certificate One Thursday Buck Political Note circa 1938
    "One Tax Free Buck"/"Has no Federal or State Income Tax Liability" circa 1930s.
    The former is a colorful note with Santa Claus and a pot of gold on the face and on the back the phrases, "State of Confusion" and "Scrambled Eggs for California." We take the following from the Society of Paper Money Collectors -Paper Money - Vol. XI Whole No. 2 - Spring 1972, "The Chelan - Townsend Test Fund and Its Checks" by George S. Vanderwende on pages 88-89: "During the depression that developed in the United States in 1929, Dr. Francis E. Townsend, a Western physician promulgated a plan which became known by his name. Every person 60 years and over would receive a Federal Pension of $200.00 per month. For eight million pensioners above the 60 year limit, the cost would be $20,000,000,000 a year, at least four time the Federal Revenue in 1936, or 40% of the income of the nation. On the other hand, the pensions would stimulate, so it was argued, the consumption of commodities. A considerable organization backed the plan which was discussed in Congress. The advocates of the plan were very active in California. There was quite a battle between the pros and cons. The plan was so ridiculed by the cons that they issued "The One Thursday Buck." This lot contains one of those satirical notes. The latter political note has similar artwork and printing but no hint of location. These two items have been encapsulated by PCGS but not graded. (Total: 2 notes)

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    Auction Dates
    September, 2015
    22nd Tuesday
    Internet/Mail Bids: 7
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