The Physical Foundation of Meaning: a registered act, its light record, and the same ledger transformation

When one person acts and another reads a message about the act, what has to be physically true for the message to mean the act? We answer for the smallest case with two participants, a shared bond, an action on it and a message written in light. The action is registered by preparing a light pulse from the bond's two comparison amplitudes and running it through a recording circuit for a chosen fraction of its period. The circuit leaves the mean of the amplitudes in a main port and rotates their half-difference into a second port that keeps it. The message is the author, the tick and the two ports. A second participant who reads the message recovers both amplitudes exactly, performs the act on the bond, and produces the same change in every bond multiplier and in every participant's burden as the physical execution. The message keeps what the ledger forgets: who acted, when, in which order, at what signal scale, and how much was left in the residual. We derive the transport law that carries the difference into the second port, the control law that selects the fraction for any reachable target, and the exact domain of the channel: it reaches a target bond ratio precisely when the target does not raise the bond's recognition cost. Native Love is the act the channel performs, every strain on the pair is a Justice-Forgiveness word of the ethical primitives, the economic effect between required and actual comparison states is the same act, and the member and whole descriptions differ by exactly the internal shared bonds, for any measure on pairs of participants. A 20,000-case execution reproduces the correspondence.