Virginia’s House of Delegates passed a bill this week to set up a committee that would consider whether the state should mint its own currency, based on a gold or silver standard.
ABC News reports:
The lower chamber passed a bill Monday to study the possibility. The legislation, proposed by Manassas Republican Del. Robert Marshall, would create a new joint subcommittee made up of lawmakers, plus two outside experts, to “study the feasibility of a metallic-based monetary unit.”
The committee could spend up to $17,440 and would present its recommendations before the legislative session starts in 2014.
The House of Delegates passed the bill by a vote of 65-32, though it is not likely to pass out of the state Senate, which is split evenly between Republicans and Democrats.
Marshall is a big fan of the gold standard, and has repeatedly proposed similar legislation in the past. “Once Virginia leads the way, other [states] will see this,” he said in 2011. “We need to get out of a lethargic mode of acceptance. A gold and silver system puts the power back with the people and not with a private group of bankers.”