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Louisiana reaffirms gold and silver as legal tender
From Money Metals News Service, Eagle, Idaho
Friday, May 31, 2024
Louisiana Gov. Jeff Landry has signed a new law reaffirming gold and silver as legal tender, making a symbolic statement in favor of sound-money principles.
Senate Bill 232, sponsored by Sen. Mark Abraham, marks the sixth pro-sound money bill passed by a state this year, underscoring a national trend.
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Louisiana's sound money bill simply affirms that "any gold or silver coin, specie, or bullion" issued by the United States government is considered legal tender whenever voluntarily agreed upon by both parties to a contract. The measure enjoyed popular support, receiving only one "no" vote on the floor throughout the Louisiana House and Senate.
This concept is consistent with the U.S. Constitution. In fact, Article 1 Section 10, reads: "No state shall…coin Money; emit Bills of Credit; [or] make any Thing but gold and silver Coin a Tender in Payment of Debts." ...
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