Introduced by Rep. Lenore Barrett in the Idaho State House yesterday is House Bill 622 (H0622), the Constitutional Tender Act. If passed, the act would make law that:
the state shall neither compel nor require any person to recognize, receive, pay out, deliver, promise to pay or otherwise use or employ any thing but gold and silver coin, in that form or in the form of a designated electronic ounce defined as and absolutely payable in a specified weight of specie, and convertible on demand into gold and silver coin through a specie exchange, as media of exchange
The United States Constitution declares, in Article I, Section 10, “No State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts.” State-Level Constitutional Tender laws seek to nullify federal legal tender laws in the state by authorizing payment in gold and silver, electronic currency, or a paper note backed 100% by gold or silver.
The intent of the bill is to prevent government supply and demand manipulation of the Idaho citizen’s money by providing an alternative tender administered by the citizens of Idaho. The Act preserves the individual’s freedom of choice to continue with Federal Reserve Notes, or adopt Idaho Constitutional Tender, effectively nullifying federal laws currently preventing this kind of exchange within the state.
“Constitutional Tender” bills have been introduced in six other states in the past year – most recently, South Carolina.
CLICK HERE – to view the Tenth Amendment Center’s Constitutional Tender Legislative Tracking Page
Latest posts by Michael Boldin (see all)
- James Madison on the General Welfare Clause - August 19, 2014
- Thomas Jefferson on the General Welfare Clause - August 14, 2014
- James Madison: Speaking on the Bill of Rights and the 9th Amendment - August 13, 2014