I will be presenting a paper on the Constitutional Tender Act at the Mises Institute's "Austrian Scholars Conference" this weekend. The title of the paper is "Ending the Federal Reserve From the Bottom Up: Re-introducing Competitive Currency by State Adherence to Article I, Section 10." Following the Conference, I'll be posting the paper for download, and will put up a notice here on how to get it.
For information on the Conference, including speakers, schedule, topics, lodging, directions, and more, go to http://mises.org/events/114. I'd love to see you there!
Bill Greene
Wednesday, March 10, 2010
Tuesday, March 9, 2010
Send ONE EMAIL for Sound Money!
Dear Friends of Sound Money,
We are making GREAT progress here in Georgia in advancing Sound Money and Constitutional Tender!
Our latest bill, SB 416, the "Sound Money in Banking Act" (to require any bank serving as a depository for the state to offer/accept gold and silver coin for deposit) was introduced in the Georgia Senate by Sen. David Shafer on Tuesday, 2/16 - almost EXACTLY one year after our original bill, the Constitutional Tender Act (HB 430), was introduced in the House!
See the bill here: http://www.legis.state.ga.us/legis/2009_10/sum/sb416.htm
The bill has been assigned to the Senate Banking and Finance Committee. That's a good thing, because over 25% of the Committee Members are already CO-SPONSORS of this bill! But in order for the bill to continue to move forward, we need for the next important step to take place:
The Chairman of the Committee MUST bring the bill up in Committee, and set a date for a full hearing on it.
So here's what we need to do now: the Committee Chair, Sen. Bill Hamrick, needs to schedule a full hearing on SB 416 -- SOON. The committee could then take testimony from lots of OUR experts on what exactly it would mean to carry out this bill. This would not only garner a LOT of publicity -- especially if we get some big names to come testify -- but it really WOULD educate these legislators on exactly WHY we need to pass this bill.
So, fellow Constitutionalists, we need to TAKE ACTION AGAIN! Here's how:
* Contact Sen. Bill Hamrick, the Chair of the Senate Banking and Finance Committee:
Email: bill.hamrick@senate.ga.gov
Office: 404-656-0036
Fax: 404-651-6767
* Ask Sen. Hamrick to please schedule a hearing SOON for SB 416, the Sound Money in Banking Act, before the Senate Banking and Finance Committee;
* Remind Sen. Hamrick about why this bill is so important: because the citizens of Georgia, like every other State, are facing a large devaluation of the dollar because of the current administration's policy of bailouts and borrowing: the "Obama inflation". Directing banks to allow their customers to establish accounts based on legal tender gold and silver coins will provide a safe and convenient way for the citizens of Georgia to "hedge" against the "Obama inflation".
* You can also respectfully remind Sen. Hamrick that this bill is also needed because, with Georgia LEADING THE NATION in BANK FAILURES, the banking industry desperately needs new ways of bringing in business, customers, and MONEY. More than three out of five Georgia banks were unprofitable in 2009, over twice the national average. If banks in Georgia are directed to allow their customers to establish gold and silver accounts, there will be a HUGE influx of customers not only from across Georgia, but from across the nation; this is the Georgia banking industry's best opportunity to attract the record-breaking legal tender silver and gold coin business, now at over 30 million Silver Eagles and nearly 2 million Gold Eagles per year. That would be an increased reserve of over $2.2 BILLION in value in Georgia's banks -- and NO other state is offering this service in its banks!
To recap what we DESPERATELY NEED people to do:
* Contact. Sen. Hamrick at bill.hamrick@senate.ga.gov and ask him to please schedule a hearing SOON for SB 416, and tell him why it's important.
THANK YOU SO MUCH -- it's because of people like YOU, who are willing to take a couple of minutes of your valuable time to do something like this, that we have a GOOD SHOT at getting this bill moved through the General Assembly this year -- and even introduced in other states!
LET'S ROLL!
http://www.ConstitutionalTender.com/
We are making GREAT progress here in Georgia in advancing Sound Money and Constitutional Tender!
Our latest bill, SB 416, the "Sound Money in Banking Act" (to require any bank serving as a depository for the state to offer/accept gold and silver coin for deposit) was introduced in the Georgia Senate by Sen. David Shafer on Tuesday, 2/16 - almost EXACTLY one year after our original bill, the Constitutional Tender Act (HB 430), was introduced in the House!
See the bill here: http://www.legis.state.ga.us/legis/2009_10/sum/sb416.htm
The bill has been assigned to the Senate Banking and Finance Committee. That's a good thing, because over 25% of the Committee Members are already CO-SPONSORS of this bill! But in order for the bill to continue to move forward, we need for the next important step to take place:
The Chairman of the Committee MUST bring the bill up in Committee, and set a date for a full hearing on it.
So here's what we need to do now: the Committee Chair, Sen. Bill Hamrick, needs to schedule a full hearing on SB 416 -- SOON. The committee could then take testimony from lots of OUR experts on what exactly it would mean to carry out this bill. This would not only garner a LOT of publicity -- especially if we get some big names to come testify -- but it really WOULD educate these legislators on exactly WHY we need to pass this bill.
So, fellow Constitutionalists, we need to TAKE ACTION AGAIN! Here's how:
* Contact Sen. Bill Hamrick, the Chair of the Senate Banking and Finance Committee:
Email: bill.hamrick@senate.ga.gov
Office: 404-656-0036
Fax: 404-651-6767
* Ask Sen. Hamrick to please schedule a hearing SOON for SB 416, the Sound Money in Banking Act, before the Senate Banking and Finance Committee;
* Remind Sen. Hamrick about why this bill is so important: because the citizens of Georgia, like every other State, are facing a large devaluation of the dollar because of the current administration's policy of bailouts and borrowing: the "Obama inflation". Directing banks to allow their customers to establish accounts based on legal tender gold and silver coins will provide a safe and convenient way for the citizens of Georgia to "hedge" against the "Obama inflation".
* You can also respectfully remind Sen. Hamrick that this bill is also needed because, with Georgia LEADING THE NATION in BANK FAILURES, the banking industry desperately needs new ways of bringing in business, customers, and MONEY. More than three out of five Georgia banks were unprofitable in 2009, over twice the national average. If banks in Georgia are directed to allow their customers to establish gold and silver accounts, there will be a HUGE influx of customers not only from across Georgia, but from across the nation; this is the Georgia banking industry's best opportunity to attract the record-breaking legal tender silver and gold coin business, now at over 30 million Silver Eagles and nearly 2 million Gold Eagles per year. That would be an increased reserve of over $2.2 BILLION in value in Georgia's banks -- and NO other state is offering this service in its banks!
To recap what we DESPERATELY NEED people to do:
* Contact. Sen. Hamrick at bill.hamrick@senate.ga.gov and ask him to please schedule a hearing SOON for SB 416, and tell him why it's important.
THANK YOU SO MUCH -- it's because of people like YOU, who are willing to take a couple of minutes of your valuable time to do something like this, that we have a GOOD SHOT at getting this bill moved through the General Assembly this year -- and even introduced in other states!
LET'S ROLL!
http://www.ConstitutionalTender.com/
Wednesday, March 3, 2010
Idaho Introduces Its Own "Constitutional Tender Act"!
Our friends in Idaho have been working for some time now on their own version of a bill to restore constitutionally valid tender in that State, by restoring silver and gold as an alternative to Federal Reserve Notes. This bill, which they are calling the Idaho Constitutional Tender Act, was introduced on March 2nd in the House Ways & Means Committee. It has been assigned bill number 622.
I've been interacting with the members of The Idaho Sound Money Task Force (which includes monetary experts, state legislators, and interested citizens) for a number of months now, and have watched this bill come to fruition after several iterations. I have to say, I'm getting more and more excited as I see more and more states "coming on board" the sound money train!
I've been interacting with the members of The Idaho Sound Money Task Force (which includes monetary experts, state legislators, and interested citizens) for a number of months now, and have watched this bill come to fruition after several iterations. I have to say, I'm getting more and more excited as I see more and more states "coming on board" the sound money train!
Wednesday, February 24, 2010
We Need Your Help for ONE MINUTE
Dear Friends of Sound Money,
I need your help RIGHT NOW, to take ONE MINUTE of your very valuable time, for a quick Action Item to advance HB 430, the "Constitutional Tender Act."
As you know, we won a significant victory in the last session, when two major subcommittees of the Georgia House Banks and Banking Committee held a full hearing on the ConTen Act: http://bit.ly/dCu6t9
That was ONLY possible because patriots like YOU were willing to demand that hearing be held. You demanded it -- and it WORKED.
Now, we need to KEEP PUSHING.
At this moment, the bill is still stuck in those subcommittees. We NEED to get it sent UP to the full committee, in order to get an up-or-down vote on it. Rep. Calvin Hill, Chairman of the Financial Institutions & Services Subcommittee, has been ill recently, so no action could be taken on his part.
However, Rep. Mike Coan, Chairman of the Regulations & Oversight Subcommittee, has been very active at the State Capitol -- but NOT in moving forward on the Constitutional Tender Act!
When the bill's sponsor, Rep. Bobby Franklin, asked Rep. Coan to please move it out of subcommittee, Rep. Coan's response was that he needed the permission of the Chairman of the full Banks and Banking Committee, Rep. James Mills, to do so.
That is simply NOT TRUE. Rep. Coan CAN push HB 430 up to the full committee ANY time he wants to - HE is the Chairman of his subcommittee, with full responsibility over it.
So today, RIGHT NOW, I'm asking you to do just one quick thing: Rep. Coan a quick email, or give him a quick phone call.
It doesn't even matter if you live in Georgia. He MUST hear from a LOT of folks, so we can move this bill forward! Again, his contact info is:
* Chairman of the Regulations & Oversight Subcommittee, Rep. Mike Coan (R-101) - repcoan@charter.net - 404-656-6801
* In your message, you can politely explain to him WHY this bill is so important: because Georgia, like every other state, is in violation of the U.S. Constitution without such a bill (because the State is making some other "Thing" a Tender in Payment of Debts, both to and by the State). Remind him that State legislators are all required to swear an oath to uphold that Constitution, so ethically and morally they need to do whatever the Constitution requires.
* Inform Rep. Coan that this type of bill is also needed because, due to the ever-widening circle of economic disaster that is affecting the citizens of every State, we MUST do something to at least begin the process of restoring sound money and a sound economy, whether or not the Federal government or any other State government does so. This would immediately begin the flow of real wealth toward the state's treasury. This would stabilize the state's economy, protect the pensions of state employees, etc. -- and offer many other immediately recognizable benefits.
* Finally, ask Rep. Coan to please get HB 430, the Constitutional Tender Act, moving UP to the full Banks and Banking Committee.
Chairman Coan MUST hear from the people about how IMPORTANT this bill is, and WHY it needs to be sent favorably back up to the Committee!
THANK YOU SO MUCH -- it's because of people like YOU, who are willing to take a minute of your valuable time to do something like this, that we have a GOOD SHOT at getting this bill moved through the General Assembly this year -- and even introduced in other states!
LET'S ROLL!
http://www.ConstitutionalTender.com/
I need your help RIGHT NOW, to take ONE MINUTE of your very valuable time, for a quick Action Item to advance HB 430, the "Constitutional Tender Act."
As you know, we won a significant victory in the last session, when two major subcommittees of the Georgia House Banks and Banking Committee held a full hearing on the ConTen Act: http://bit.ly/dCu6t9
That was ONLY possible because patriots like YOU were willing to demand that hearing be held. You demanded it -- and it WORKED.
Now, we need to KEEP PUSHING.
At this moment, the bill is still stuck in those subcommittees. We NEED to get it sent UP to the full committee, in order to get an up-or-down vote on it. Rep. Calvin Hill, Chairman of the Financial Institutions & Services Subcommittee, has been ill recently, so no action could be taken on his part.
However, Rep. Mike Coan, Chairman of the Regulations & Oversight Subcommittee, has been very active at the State Capitol -- but NOT in moving forward on the Constitutional Tender Act!
When the bill's sponsor, Rep. Bobby Franklin, asked Rep. Coan to please move it out of subcommittee, Rep. Coan's response was that he needed the permission of the Chairman of the full Banks and Banking Committee, Rep. James Mills, to do so.
That is simply NOT TRUE. Rep. Coan CAN push HB 430 up to the full committee ANY time he wants to - HE is the Chairman of his subcommittee, with full responsibility over it.
So today, RIGHT NOW, I'm asking you to do just one quick thing: Rep. Coan a quick email, or give him a quick phone call.
It doesn't even matter if you live in Georgia. He MUST hear from a LOT of folks, so we can move this bill forward! Again, his contact info is:
* Chairman of the Regulations & Oversight Subcommittee, Rep. Mike Coan (R-101) - repcoan@charter.net - 404-656-6801
* In your message, you can politely explain to him WHY this bill is so important: because Georgia, like every other state, is in violation of the U.S. Constitution without such a bill (because the State is making some other "Thing" a Tender in Payment of Debts, both to and by the State). Remind him that State legislators are all required to swear an oath to uphold that Constitution, so ethically and morally they need to do whatever the Constitution requires.
* Inform Rep. Coan that this type of bill is also needed because, due to the ever-widening circle of economic disaster that is affecting the citizens of every State, we MUST do something to at least begin the process of restoring sound money and a sound economy, whether or not the Federal government or any other State government does so. This would immediately begin the flow of real wealth toward the state's treasury. This would stabilize the state's economy, protect the pensions of state employees, etc. -- and offer many other immediately recognizable benefits.
* Finally, ask Rep. Coan to please get HB 430, the Constitutional Tender Act, moving UP to the full Banks and Banking Committee.
Chairman Coan MUST hear from the people about how IMPORTANT this bill is, and WHY it needs to be sent favorably back up to the Committee!
THANK YOU SO MUCH -- it's because of people like YOU, who are willing to take a minute of your valuable time to do something like this, that we have a GOOD SHOT at getting this bill moved through the General Assembly this year -- and even introduced in other states!
LET'S ROLL!
http://www.ConstitutionalTender.com/
GREAT Quote from Daniel Webster
"Most unquestionably there is no legal tender, and there can be no legal tender, in this country, under the authority of this government or any other, but gold and silver, either the coinage of our own mints, or foreign coins, at rates regulated by Congress. This is a constitutional principle, perfectly plain, and of the highest importance. The states are expressly prohibited from making anything but gold and silver a tender in payment of debts; and although no such express prohibition is applied to congress, yet as congress has no power granted to it, in this respect, but to coin money and to regulate the value of foreign coins, it clearly has no power to substitute paper, or anything else, for coin, as a tender in payment of debts and discharge of contracts... The legal tender, therefore, the constitutional standard of value, is established and cannot be overthrown. To overthrow it, would shake the whole system. The constitutional tender is the thing to be preserved, and it ought to be preserved sacredly, under all circumstances." - Daniel Webster, in a speech before the Senate on December 21, 1836
From A plea for the Constitution of the U.S. of America: wounded in the house of its Guardians by George Bancroft, pp. 93-94
From A plea for the Constitution of the U.S. of America: wounded in the house of its Guardians by George Bancroft, pp. 93-94
Saturday, February 6, 2010
South Carolina: "Gold and Silver Coin as Legal Tender Act" Introduced!
South Carolina has joined the growing ranks of States which have had Constitutional Tender bills introduced!
On February 2nd, 2010, SC Rep. Michael A. Pitts (District 14 - Abbeville, Greenwood & Laurens Cos.) introduced H. 4501, the "Gold and Silver Coin as Legal Tender" Act. This bill would allow "silver and gold" to once again be legal tender in South Carolina, as opposed to the paper bank notes of Federal Government debt.
The language of H. 4501 is different than our model Constitutional Tender Act bill, but the effect would be the same - making gold and silver coin the only thing allowed as payment to and from the State.
We'll take that!
Links:
H. 4501
Rep. Michael A. Pitts
Contact your S.C. Representative
Watch an interview with Rep. Pitts about his bill last year supporting States Rights in South Carolina:
On February 2nd, 2010, SC Rep. Michael A. Pitts (District 14 - Abbeville, Greenwood & Laurens Cos.) introduced H. 4501, the "Gold and Silver Coin as Legal Tender" Act. This bill would allow "silver and gold" to once again be legal tender in South Carolina, as opposed to the paper bank notes of Federal Government debt.
The language of H. 4501 is different than our model Constitutional Tender Act bill, but the effect would be the same - making gold and silver coin the only thing allowed as payment to and from the State.
We'll take that!
Links:
H. 4501
Rep. Michael A. Pitts
Contact your S.C. Representative
Watch an interview with Rep. Pitts about his bill last year supporting States Rights in South Carolina:
Friday, February 5, 2010
What Is The Constitutional Tender Act?
Great little post that succinctly describes the Constitutional Tender Act. Thank you, "Gemologist Sam"! :)
What Is The Constitutional Tender Act?CLICK HERE to read the rest of this post.
The U.S. economy is having big problems. This is not news! But some legislators in Georgia think they have a solution to the problem. While it would only impact their State, their hope is that if the bill passes they will set a good example for other states as well as the Federal Government.
The Constitutional Tender Act is Georgia House Bill (HB) 430. It was introduced by Representative Bobby Franklin (R-43) in 2009. He points out that the United States Constitution declares (Article I, Section 10) that “No State shall…make any thing but gold and silver coin a tender in payment of debts.” However this is no longer the case.
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