Privacy and Fungibility: The Forgotten Virtues of Sound Money

Long before the Blockchain Era, a landmark Scottish lawsuit posed a question that still echoes today: Can money carry memory—or must it forget? In 1748, Hew Crawfurd—a lawyer in Edinburgh—signed and recorded the serial numbers of two £20 notes before mailing them to a merchant in Glasgow. When the letter failed to arrive, Crawfurd notified the bank and publicized the theft. Months later, one note resurfaced at the Royal Bank’s office. In Crawfurd v.

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David Sasser is a Marine Corps veteran with a Bachelor’s Degree in History from Louisiana Tech University.

Leo XIV and Rerum Novarum

Upon his elevation, the new pope announced that he had assumed the name of Leo XIV. For those familiar with Leo XIII, this was a signal that the principles of Leo XIII as expressed in his encyclical, Rerum Novarum, would play a major role in the new pontificate. Rerum Novarum is considered to be the Catholic Church’s foundation for social teaching.