South Carolina Lawmakers want to bring back the gold standard. Both the South Carolina Senate and House are reviewing the Sound Money Legislation, which would make gold and silver coins legal tender in the State.
On Wednesday, American Principles in Action, a conservative non-profit, released a statement announcing that the bill has the official support of the South Carolina Republican Party.
“The South Carolina legal tender bill follows the passage of a new law in Utah, which on May 9th became the first state in more than a century to recognize gold and silver coins as legal tender,” the statement said.
“Article I Section 10 of the U.S. Constitution specifies that the states shall not ‘make anything but gold and silver coin a payment in tender of debts.’ With the federal government clearly abdicating its responsibility to regulate the value of money, states across the country are moving to exercise this constitutional power.”