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There is  NO  "GOLD STANDARD"  in the
U.S. CONSTITUTION

Eric Haubert           June 27, 2004        (June 12)         page 4


A certain local writer (R.J. Villella) has made a claim that "the
gold standard"
... "is mandated by the Constitution."   It took
me about 5 minutes to find out that this claim is TOTALLY
FALSE.

On the subject of money, the U.S. Constitution says that
: "The
Congress shall have power"
... "To borrow money on the credit
of the United States"
... "To coin money, regulate the value
thereof, and of foreign coin, and fix the standard of weights and
measures."
 ...

"No state shall" ... "coin money, emit bills of credit," (or) "make
anything but gold and silver coin a tender in payment of debts."

The only reference to "gold" is to "gold AND SILVER."   Silver is
NO LESS a standard of money than gold.   The so-called "gold
standard," EXCLUDING SILVER, was a subject being debated
about a hundred years AFTER the Constitution was written.

The reference to "gold and silver" is a restriction on the
STATES, and NOT a restriction on the federal government.

The only point of dispute is whether the legislature is permitted
to create a bank, or a monetary agency.  Notice that Alan
Greenspan, a past proponent of the "gold standard," says
nothing about it these days
; NOR has he recently denounced
the Federal Reserve banking system, on Constitutional
grounds.

The power to "borrow money," to "regulate the value thereof,"
and to "fix the standard of weights and measures" means that
there is NOTHING RESEMBLING a "gold standard"
...
"mandated by the Constitution."

Eric Haubert
Massillon, Ohio
                                    4
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