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Washington State proposed bill to make gold and silver legal tender
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<p>[QUOTE="fatima, post: 1364127, member: 22143"]No it's not absurd. The two cases you googled up, the one in 1965, and the one in the 1970s have never been decided on a Constitutional basis in front of the Supreme Ct. They were opinions written where people refused to accept Federal Reserve notes arguing that only gold and silver were lawful money. The decisions are only valid in the district in which they were made. The Nixon case was actually dismissed. I didn't look at the other. </p><p><br /></p><p>But you miss the point completely. If gold and silver are declared legal tender, there is nothing to prevent a state from creating gold and silver in whatever form meets the definition. The money is the gold and silver. The coinage is simply the currency created from it. Neither of the cases you cite address this at all.</p><p><br /></p><p>The US Dollar was originally defined as follows:</p><p><br /></p><blockquote><p>DOLLARS OR UNITS--each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.</p></blockquote><p><br /></p><p><br /></p><p>The legal tender specified by congress was 371 grains of silver which was a dollar. There was nothing stopping a state or private mint from minting a coin to this specification and then using it for commerce or debts.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 1364127, member: 22143"]No it's not absurd. The two cases you googled up, the one in 1965, and the one in the 1970s have never been decided on a Constitutional basis in front of the Supreme Ct. They were opinions written where people refused to accept Federal Reserve notes arguing that only gold and silver were lawful money. The decisions are only valid in the district in which they were made. The Nixon case was actually dismissed. I didn't look at the other. But you miss the point completely. If gold and silver are declared legal tender, there is nothing to prevent a state from creating gold and silver in whatever form meets the definition. The money is the gold and silver. The coinage is simply the currency created from it. Neither of the cases you cite address this at all. The US Dollar was originally defined as follows: [indent]DOLLARS OR UNITS--each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.[/indent] The legal tender specified by congress was 371 grains of silver which was a dollar. There was nothing stopping a state or private mint from minting a coin to this specification and then using it for commerce or debts.[/QUOTE]
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Washington State proposed bill to make gold and silver legal tender
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