I typed the below EXACTLY as it was written.

Expansion of Currency Necessary

If the Republican Party had released itself from the clutches of Wall Street and expanded the currency immediately after the stock-market crash in 1929 or within a year after the crash, our people would have been saved from this awful money panic. Our President will doubtless ask amendments to this new law when conditions are more normal and when it is better understood. Under the new law the money is issued to the banks in return for Government obligation, bills of exchange, drafts, notes, trade acceptances, and bankers acceptances. The money will be worth 100 cents on the dollar, because it is backed by the credit of the Nation. It will represent a mortgage on all the homes and other property of all the people in the Nation.

House Congressional Record March 9, 1933 pg. 83

*Note it says "the money will be worth 100 cents on the dollar..." also showing that the FRN is NOT a Dollar.

All property is owned by the State...to include your labor, which is the most valuable of all property.