Restore Sound Money in Ohio With HB 206

Why it Matters

Members of the Ohio General Assembly are seeking to enact legislation helping restore sound money and enforce the U.S. Constitution’s monetary provisions.

House Bill No. 206 (HB 206) is sponsored by Representative Jennifer Gross (R-West Chester) and 11 other representatives. If enacted, HB 206 would create a state-issued gold or silver transactional currency, as well as a bullion depository. Furthermore, the bill would authorize this currency as legal tender — a major step toward nullifying the Federal Reserve’s monopoly on currency and enforce Article I, Section 10 of the U.S. Constitution.

HB 2086 is a good first step toward enforcing the Constitution’s monetary provisions. Article I, Section 10, of the U.S. Constitution plainly states that “No State shall … make any Thing but gold and silver Coin a Tender in Payment of Debts.” It’s long overdue that states begin to enforce this provision once again.

Additionally, this bill is an important step toward nullifying the unconstitutional Federal Reserve, which has a monopoly on money, and also reducing Ohio’s financial dependence on the federal government. It will also help Ohio avoid a potential “Central Bank Digital Currency,” which would severely threaten privacy and individual freedom.

Article VI of the U.S. Constitution obligates state officials to uphold the Constitution and nullify all laws not “made in Pursuance” of it. Officials at all levels of government must push back against the federal government’s many unconstitutional laws and agencies, and robustly enforce the Constitution and only those laws “made in Pursuance thereof.” HB 206 is a good model for other states to follow.

Urge your state representative and senator to support HB 206 and to fully restore sound money in Ohio.