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November 14, 2004

Posted 12:55 AM Eastern

NewsWithViews.com

On October 4, 2004, New Hampshire Representative Henry W. McElroy [search] filed a new, revised 'Gold Money' bill for the upcoming New Hampshire General Court (Legislature) session. He was also a prime sponsor of the Seventeenth Amendment Resolution voted on earlier this year [search]. Rep. McElroy urges all citizens in New Hampshire to contact their legislators and ask them to vote yes for this gold money bill.

This latest version focuses on the digital currency feature in the use of gold and silver by the State of New Hampshire, its citizens and their transactions with each other. There is also a mandatory provision regarding the taxing area to make certain a steady supply of tax revenues will move into the gold account to maintain it at a sustainable level.

This new bill carries the title "Gold and Silver Coin and Electronic Currency." It was drafted by Edwin Vieira Jr., Ph.D., J.D., Manassas, Virginia, author of "Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution." Dr. Vieira is considered the preeminent expert on money/currency in this country. (search)

This bill is not yet available for viewing on the New Hampshire General Court's web site. The introductory text version is reprinted below.

New Chapter; Gold and Silver Coin and Electronic Currency.

Amend RSA by inserting after Chapter 6-C the following new Chapter:

CHAPTER 6-D GOLD AND SILVER COIN AND ELECTRONIC CURRENCY

6-D:1 Findings. The General Court of New Hampshire finds and declares that:

I. The absence of gold and silver coin (in that form or in the form of an Electronic Gold Currency defined as and absolutely payable in a specified weight of that metal, and convertible on demand into gold and silver coin) as media of exchange between the State of New Hampshire and her citizens, inhabitants, and businesses, in the exercise of the State's essential sovereign prerogatives, functions, rights, powers, privileges, and duties:

(a) Abridges, infringes on, and interferes with the sovereignty and independence of this State and her citizens, inhabitants, and businesses, and their rights, powers, privileges, immunities, and prerogatives as a political community, recognized and guaranteed to them by Part First, Article 7, of the Constitution of New Hampshire;

(b) Exposes this State and her citizens, inhabitants, and businesses to chronic problems and potentially serious crises that may arise from the economic and political instability of the present domestic and international systems of coinage, currency, banking, and credit in which gold and silver have no effective role;

(c) Exposes this State and her citizens, inhabitants, and businesses to the chronic depreciation of media of exchange other than gold and silver, which losses in purchasing power amount to the incremental confiscation of their property without just compensation, in violation of Article I, Section 10, Clause 1 of the Constitution of the United States, and the Due Process Clause of the Fifth Amendment thereto; and

(d) Restricts the ability of this State and her citizens, inhabitants, and businesses to fulfill and enjoy the mandates and guarantees of Part First, Articles 1, 2, 3, 12, and 28, of the Constitution of New Hampshire, to secure a sound economy, and to maintain a firm fiscal foundation for a policy and program of maintaining security within this State's boundaries and participating effectively in a national program of "homeland security".

II. In order to preserve the sovereignty and independence of this State and her citizens, inhabitants, and businesses, and their rights, powers, privileges, immunities, and prerogatives as a political community, as well as to protect, provide for, and promote the people's safety, health, welfare, security, and economic prosperity, it is imperatively necessary and proper for the General Court to guarantee to and provide for this State constitutional and economically sound media of exchange by exercising:

(a) This State's power, privilege, and duty to "make gold and silver Coin a Tender in Payment of Debts", as reserved to and required of each State under Article I, Section 10, Clause 1 of the Constitution of the United States, and confirmed by the Tenth Amendment thereto and by Part First, Article 7, of the Constitution of New Hampshire; and

(b) Other powers, reserved to this and every State by the Tenth Amendment, and to this State by Part First, Article 7, of the Constitution of New Hampshire, which relate to this State's choice of media of exchange for the fulfillment of her essential sovereign functions.

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This latest version focuses on the digital currency feature in the use of gold and silver by the State of New Hampshire, its citizens and their transactions with each other.