Will Grigg?s Liberty Minute

March 23, 2009

Montana?s state motto, which it adopted in 1865, is ?Oro y plata,? a Spanish phrase meaning ?gold and silver.? Appropriately, Montana?s state legislature is considering a measure that would restore the use of the only constitutionally sound money ? gold and silver.

The US Constitution authorizes only the use of gold and silver coin as legal tender for payment of debts and use in commercial transactions. Until 1971 it was possible to exchange paper dollars for constitutional money.

Now, however, the paper dollar is a pure fiat currency, and our official coinage contains no precious metal. And the Federal Reserve continues to undermine what?s left of the dollar?s value by emitting hundreds of billions ? or even trillions ? of dollars each week.

Restoring a sound currency is an indispensable step toward genuine economic recovery. Hopefully, Montana?s legislature will have the wisdom and courage to take that step, and other states will quickly follow.

Let us take back the liberty wherewith Christ has made us free.