Gold Depostory

An 1891 $20 U.S. gold piece minted in the now closed mint at Carson City, Nev. If a person looks at the reverse-side, labove the Eagle our National Motto: "In God We Trust" can be seen. Also, at the far, far bottom -- just above the letter 'D' of the word 'DOLLARS' is a mintmark "CC", which denoted the Carson City Mint

Recently, it was on the November ballot pertaining to the relatively newly approved Texas Gold Buillion Depository. Buillion can include gold bars or even gold coins. Few people realize it but Texas pays about $1 million a year to store its gold in New York. Personally, I have advocated for years that Texas and other States should have gold storehouses. Gold is a standard of value that has always had some measure of 'worth' or 'value'. Never in mankind's history has the value of gold went down to Zero....Never !!!

That cannot be said of paper money (sometimes called 'fiat money'). Recently, I talked to a Texas Member of Congress (I won't say which one) . I won't say if it was a Senator or a Congressman, it was a man with more clout than the average citizen. Sometimes I agree with him, sometimes I don't. However, the pivotal aspect of our recent conversation was his remark that he told me he asked to visit "Fort Knox"---our nation's best known gold repository--- and shockingly, he was denied entry.

President Theodore Roosevelt deeply believed in gold coinage; yet he opposed the motto "In God We Trust" being placed on the coins. It wasn't that he was anti-religious; just the opposite, he was very religious. Roosevelt argued that if gold coinage bore the motto "In God We Trust", it would be sacrilege since he felt God's name would be involved in transactions by people buying whiskey in saloons and taverns, and used to purchase the services of prostitues in brothels. I see his logic and reverence, yet, I am glad the National Motto appears on coins. I will say this much: I believe that a person having their own gold or silver coinage, is consistent with the United States Constitution which mandates that only Congress shall mint ONLY gold or silver coins as legal-tender. I always refer people to Article I, Section 8 of the U.S. Constitution if they have any doubts. Furthermore, numismatic pre-1933 gold coins were declared "non-confiscatable" by the federal government. It's a dicey subject, in which many U.S. Senators in 1933 disagreed with President Franklin Roosevelt confiscating gold, since many Senators had personal artistic or religious gold coin collections. Thus, they created that exemption/loophole. That is one case, as a matter of my own religious convictions, I tend to agree with them. Religious coins or medals are different from buillion; the latter being ignobly looked upon solely for its "melt value".

We all know how important it is for households to have a storehouse of food, water, flashlights, radio, etc., in the event of an emergency. I find it ironic that 100 years ago, most banks across the nation kept gold and silver coins in their local vaults. Today, most banks only lock up paper currency and "clad" coins -- made from cheap metal.

I wish that Texas (and other States ) would have a storehouse of gold. As big as the size of Texas is, I even believe Longview or Kilgore should have one. I happen to be a member of Kentucky Chapter #134 of an organization called "National Sojourners" at Ft. Knox, Kentucky. It has nothing to do with banking or finace; however when I was last in Kentucky (several years ago) I could see the wisdom having a gold repository --- greatly inland (not near a 'Coast') keeping gold closer to Texas or whichever State; if this nation (heaven forbid) comes under enemy-attack again, the Coasts might be hit first.

Fort Knox, Kentucky need not be our nation's only gold stockpile. Over 186 years ago, Mexican General Santa Anna realized the importance of having a gold warehouse ( a loose translation of his actual words). Over 171 years ago, Brigham Young supervised the minting of gold coins at the Deseret Mint. Even two of the oldest U.S. Mints were located at Carson City, Nevada and New Orleans, Louisiana. Both of them have been long-since 'closed'.

Teaxs is on its way to reminding the nation how important it is to protect a measure of value that will always have genuine worth.

Kilgore News Herald


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