State Senate Bill 453 Would Return Indiana to Sound Money
January 15, 2009 at 4:52 pm
by: Allison Bricker
While elitists consider the State of Indiana “fly-over country”, advocates of smaller government now have another reason to look towards Indiana as a potential bellweather. In a state that has twice resisted expanding government’s role in marriage, at least one Indiana Senator has jumped onto the sound money bandwagon.
In a possible move to hedge against further inflationary erosion of FEDERAL RESERVE NOTES, Indiana State Senator, Greg Walker (R-Columbus) has introduced Senate Bill 453 “The Indiana Honest Money Act”.1 The bill would allow citizens the option of paying in or receiving back gold, silver, or the equivalent electronic receipt as an alternative to RESERVE NOTES for all transactions conducted with the state. The bill if passed, would finally bring Indiana back into compliance with Article I, Section X of the Federal Constitution:
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
Article 1, Section 10
United States Constitution
While it would be optional for private individuals, certain specialized business who contract with the state would be mandated to use the new silver and gold commodity account for all transactions. In addition, if the bill becomes law, the Indiana Treasury would have enough assets on their balance sheet so as to avoid the need to earmark funds out of the current budget. Thus far, Senate Bill 453 has already been introduced in the Indiana Senate and is now assigned to the Committee on Tax and Fiscal Policy. The State of New Hampshire attempted to pass a similar bill in both 2003 and 2005. However, neither bill passed and New Hampshirites have yet to make a third attempt.2
Many Hoosiers remember Senator Walker for his part in the biggest upset of the 2006 primary elections, where voters chose him over then Senate President Pro-Tem Robert D. Garton. Candidate Walker, played up on the “change” sentiment by driving around in a 1970′s sedan-reminding voters that the car was brand new when Bob Garton was first elected.
Source(s): 1Indiana Legislative Services Agency, Bill Info: Senate Bill 0453 • 2Spokesman-Review “Idaho legislator wants option of paying state taxes with silver, gold.” -January 17th, 2005
January 15th, 2009 at 5:11 pm
I think it would be wise if the entire country was back on the gold standard. It would be a bit stabler in these unstable times.
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January 15th, 2009 at 6:32 pm
Go Indianna! If just one state would pass this it would have a domino effect…….and effectively end the Federal Reserve.
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January 16th, 2009 at 12:02 pm
I don’t believe there is anything more important
than what you are trying to do. The very best to you.
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January 21st, 2009 at 10:25 am
The best thing we can do as a country, is to have a sound money system. Great work, and keep in mind that the bankers will pay off everyone to stop this action.
Every American should wake up and learn about the issuing of our currency.
If this ever gets passed, I would move to Idaho. The Federal Reserve System should be abolished, and the 13th Amendment should be repealed immediately thereafter.
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January 21st, 2009 at 10:33 am
I am assuming George you meant some other Amendment besides the 13th.
The 13th abolishes slavery within the United States and the language reads….
Article of the Thirteenth
Section 1. Neither slavery or involuntary servitude, except as punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction.
Section 2. Congress shall have the power to enforce this article by appropriate legislation.
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February 12th, 2009 at 9:43 pm
There must be some kind of subersive scam here (as yet ~ unseen by anyone) that involves the rich getting richer. If the State of Indiana will send me my Tax Refund in GOLD as the starting point ~ then perhaps this is the best political policy to EVER come along.
Gold went up $29 on the Commodities Exchange today. In theory, my refund in gold would be worth more when it arrived in my hands than it was when it left the Hands of the State three days ago.
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