Tantamount to Treason Volume 1 (also known as simply Tantamount to Treason) is Michael Nesmith's fourth solo album during his post-Monkees career. Released in 1972, Tantamount to Treason is the only album Michael Nesmith recorded and released with the Second National Band. An assumed sequel (Tantamount to Treason Vol. 2) was said to have been recorded but was never released. Even so, Nesmith has personally stated that a follow-up 'never happened and all rumors are false'.

The band on this release is credited as the Second National Band—the only remaining members from the original First National Band were Nesmith and O.J. "Red" Rhodes. The Second National Band was filled out by Michael Cohen on keyboards (who had played on Nesmith's previous LP Nevada Fighter and on some of Nesmith's Monkees sessions), big-band drummer Jack Ranelli, bassist Johnny Meeks (who had played lead guitar years before with Gene Vincent), and Puerto Rican conga player Jose Feliciano.

The album is celebrated by Nesmith fans for its trippy, almost psychedelic feel. "Lazy Lady" has delay effects and white noise; "You Are My One" features guitar phasing and a long solo section; "In the Afternoon" and "Highway 99" include sound effects. Even the country music standard "She Thinks I Still Care" features a phased steel guitar solo. Nesmith also does his own version of Bill Chadwick's "Talking to the Wall"; Chadwick's own version was recorded under Nesmith's aegis in the late 1960s.

Tantamount to Treason was re-released in 2000 along with Nevada Fighter by RCA/BMG International in 2000. The re-release includes three previously unreleased bonus tracks.