GOP member Jerry O'Neil reportedly worried that America's paper currency could be on the brink of collapse.
WASHINGTON(BullionStreet): What might have prompted a republican state representative in Montana to demand he be paid in gold and silver coins instead of dollar.
In the latest example of how the yellow and white metal are going to play a major role in the world's largest economy, GOP member Jerry O’Neil reportedly worried that America’s paper currency could be on the brink of collapse.
However, Montana's Office of Legislative Services rejected the demand of the member who is a longtime supporter of Ron Paul, the former Texas congressman and perennial presidential candidate who advocates a return to the gold standard.
Montana legislative attorney Jaret Coles responded to O’Neil’s letter last week, informing him that neither the U.S. Constitution nor Montana state law requires an agency to pay its debts with gold and silver, according to the Flathead Beacon.
Coles explained in his letter that if a member of the legislature wishes to be paid in gold or silver “a bill could be introduced to accomplish this result,” reports.
O’Neil has decided not to follow through on this advice and is looking into other options. He said the demand was based on concerns of his constituents who remind him of the $17 trillion national debt and insists that the country would not have this problem if we had currency backed by gold.
Montana legislators are paid $10.33 per hour while the legislature is in session; O’Neil estimated his salary to be about $1,800 a month, close to the market value of one 2012 American Eagle One Ounce Gold Proof Coin.