Missouri Sound Money: One Step Closer

Missouri H.B.1637, which “recognizes gold and silver as legal tender” and was previously introduced in the Missouri House of Representatives on February 2, 2012, was referred to the Ways and Means committee on Thursday, February 9th, by Rep. Paul Curtman. The proposed language of the bill, termed “Missouri Sound Money Act of 2012,” sets forth what is specifically mandated by Article I, Section 10 of the U.S. Constitution.

Article I, Section 10 of theU.S. Constitution:

“No State shall…make anything Thing but gold and silver Coin a Tender in Payment of Debts.”

MissouriH.B. 1637:

“2. Gold and silver issued by the federal government is legal tender in this state:”

****The act also outlines the tax status of gold and silver as used as a legal tender, due process safeguards for those who own it as well as the the method of establishing its value for a given day’s transactions, among other things.

Missouri is one of many states that has recently introduced legislation recognizing gold and silver as legal tender.

The full text of the bill can be read here. It is brief and definitely worth the read.

The main info page of the bill, which summarizes other pertinent information such as past and scheduled actions related to it, can be viewed here.

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