Lexington Resolution: Sound Money
This below resolution was passed at the Lexington county convention, and will now go to the resolutions committee. If the resolutions committee passes it, the resolution will be up for a vote at the state convention. However, before the resolutions committee votes, they want to know your opinion. Please use the comments section below to give us your opinion, and please use your real name. Thank you!
WHEREAS, the original States of our Union assembled in a convention during the summer of 1787 largely to create a single, stable, and sound system of money to protect and encourage commerce among our States; and
WHEREAS, the convention achieved that mission, giving to the congress of the United States sole authority to “coin money” and to “fix the standard or weights and measures” all within the same sentence; and under the powers of this new federal Constitution, the Congress via the “Coinage Act of 1792” implemented its power to “coin money”. The money system established under this act defined the American “dollar” to be 416 grains of standard silver; and also established a gold “eagle” at a ratio of 15:1 for larger transactions; and
WHEREAS, the stability and economic benefits of this sound money system caused our nation to become the world de facto standard; and
WHEREAS, since the passage of the Federal Reserve Act of 1913 the American “dollar” has depreciated in value to the point where our current “dollar” in no manner resembles that which led America to its previous economic status, having no silver or gold backing whatsoever, greatly diminishing or destroying the standard of living for Americans as well as debasing our culture and is now causing other nations to no longer desire the “dollar” in their transactions in world commerce, putting our nation and the people of this State in grave danger of economic collapse resulting in hyperinflation and civil unrest.
THEREFORE, we encourage the South Carolina General Assembly to enable consumers and merchants to exercise Article 1, Section 10 of the U.S. Constitution that requires “gold and silver coin as tender in payment of debts” as an alternative to the Federal reserve system by creating a State depository of gold and silver to be utilized through electronic ownership transfer for payment of debts, taxes and encumbrances and thereby assist the citizenry of South Carolina in being prudent and wise, not fearful, as we resolve the volatile risks we face.
Done this 15th day of March in the 2011th year of our Lord and the 234th of our republic. Fairview Precinct to be considered and adopted by Lexington County Republican convention and south Carolina Republican convention.
Fairview Pelion #2
Mims Pelion #1