State Senator Greg Walker of District 41, (R-Columbus), has officially filed a Bill that would allow Indiana to offer its citizens a choice of Gold (and Silver) coin or the Electronic equivalent in payable and receivable transactions with the state. This bold bill will finally bring Indiana back into conformance with the Constitution for the United States of America which states “No state shall…make any Thing but gold and silver Coin a Tender in Payment of Debts…” Article 1, Section 10.
The Indiana Honest Money Act will be voluntary for citizens, but mandatory for certain, specialized businesses and will allow Indiana to fund the Treasury with enough assets insuring that no current state funds will need to be earmarked. S.B. 453 is NOT a replacement for Federal Reserve Notes, but more of a competing, Constitutional currency and an insurance policy for our current, tenuous “money” system.
Indiana is picking up where New Hampshire left off in their attempt to get essentially the same Bill passed back in 2003 and 2005. The Bill was written by eminently qualified Constitutional Money Scholar and practicing Constitutional Lawyer, Dr. Edwin Vieira of Virginia. Jerry Titus of Kokomo, a Senior Field Service Engineer, worked to take New Hampshire’s Constitutionally compliant wording of Dr. Vieira’s Bill, and adapted it for Indiana’s unique purposes.
This exciting juncture is only the beginning of S.B. 453 as it needs to be approved by the Tax and Fiscal Committee for House consideration, etc., and will probably be subject to debate and possible amendments. There will be about 700 Bills under consideration in the current Legislature and only about 200 will survive to be voted on.