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Path: utzoo!watmath!clyde!floyd!harpo!decvax!ucbvax!ucbcad!tektronix!orca!shark!hutch
From: hutch@shark.UUCP
Newsgroups: net.legal
Subject: Re: Paid in Dollars?
Message-ID: <565@shark.UUCP>
Date: Tue, 28-Feb-84 13:16:19 EST
Article-I.D.: shark.565
Posted: Tue Feb 28 13:16:19 1984
Date-Received: Fri, 2-Mar-84 22:44:44 EST
References: <2513@ncsu.UUCP>
Organization: Tektronix, Wilsonville OR
Lines: 26



I printed the original article and posted it on the wall near
my desk.  I may take it down soon, too many depressed/confused
faces are showing up.

One thing I noticed, the phrasing said "prohibits States ... "
and I cannot confirm from any handy source that this is the
real implication.

If the Constitution in fact uses wording which implies that
states (NOT the Fed. Govt.) are limited in what they can make
legal tender, then there is still nothing which says the Fed
cannot make whatever IT wants to into legal tender.  Right?

So, all the original article was really saying was that IF a
state was to mint a dollar coin, it would have to be made from
the proper alloy of gold and silver, and that if such a dollar
were to be made, it would cost ~20$ to make.

I suspect that the true value of the dollar can more reasonably
be calculated by analysis of the GNP and national debt.

In which case, it may actually be worth a negative amount.

Hutch