Under Lincoln’s system all currency was issued by the Treasury and not by a privately owned Federal Reserve Bank which charges us taxpayers interest on money they created out of thin air.[size={defaultattr}]
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This is a dream for many, but I'm not at all convinced it would solve any problems. Instead of having the Federal Reserve print money out of thin air, they want the Treasury to print money out of thin air. The problem with this solution is that politicians would just run those presses so fast and so hard, giving the money to themselves and their cronies and buying votes, that the money would be devalued like Zimbabwe. That's the problem with every 3rd-world country, that the politicians can print as much money as they want.
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With our current system, people have much stronger resistance to the government printing and spending money, because it becomes debt. I realize that our debt is becoming unpayable, so to some extent our system is not entirely different from having the Treasury print money, but we're still not at the level of 3rd world countries.
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Kings issued their own currency when money was made out of precious metal, and in that case there was an inherent limit on how much money they could issue, which was the amount of precious metal they could mine. Without any sort of limit on the money supply, you quickly get to Weimar Republic situations.
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Why do you think AOC is such an enthusiastic supporter of the idea mentioned here? Because she comes from a 3rd world country where this is done, and wants to make this country into the 3rd world too. That's how you do it. Devalue the currency, you crash the economy, civilization is destroyed. No thanks, I'd rather keep our current system of debt money. It seems like it'll give us a little more time before collapse.

It's not like they're hindered from devaluing our currency now, while it's debt-money. They don't care about the outstanding debt/balance. 20 trillion, 21 trillion, what's another trillion?
So that's a lousy argument.