Since the Coinage Act of 1792 specifies that our money must contain precious metals I don't see anything wrong with the legislation being proposed by Rep. Pitts. It seems as though he is just insisting that the government follow its own rules.
Bonny Blue Flags are starting to fly across America once again!
"South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.
As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.
In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."
CBS
"And be it further enacted, That there shall be from time to time struck and coined at the said mint, coins of gold, silver, and copper, of the following denominations, values and descriptions..."
Coinage Act of 1792
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