The “Constitutional Tender Act” is a bill template that can be introduced in every State legislature in the nation. Passage would return each of them to the Constitution’s “legal tender” provisions of Article I, Section 10:
“No State Shall…make any Thing but gold and silver Coin a Tender in Payment of Debts”
Such a tactic would achieve the desired goal of abolishing the Federal Reserve system by attacking it from the bottom up – pulling the rug out from under it by working to make its functions irrelevant at the State and local level.
Under the Constitutional Tender Act, the State would be required to use only gold and silver coins – or their equivalents, such as checks or electronic transfers – for payments of any debt owed by or to the State. This includes things like taxes, fees, contract payments, and the like.
All such payments would be required to be denominated in legal tender gold and silver U.S. coins, including Gold Eagles, Silver Eagles, and pre-1965 90% silver coins. The market would then require that all State-chartered banks – as well as any other bank acting as a depository for State funds – offer accounts denominated in those types of gold and silver coins, and to keep such accounts segregated from other types of accounts such as Federal Reserve Notes.
But that’s not all! Not only would the use of Federal Reserve Notes by the State be made illegal; the use of legal tender U.S. gold and silver coins would be encouraged amongst the general population too – by eliminating sanctions against its use.
Legend: Blue: Introduced. Yellow: Passed one or more houses. Green: Passed both houses. Red: Passed as Law. Purple: Failed Vote or Stalled in Committee
2013 Legislation (scroll down for previous session activity)
Legend: Blue – Introduced. Yellow – Passed one or more houses.
Red – Became Law. Black – Failed Vote.