The gold cases resurface

The New York Sun/Editorial Staff/5-22-2023

black and white photo of Ulysses S Grant“While Perry affirmed the federal government’s burden to repay its debts, the case isn’t as ringing a vindication of the 14th as the Sun, back then, had hoped. The thing to remember about the 14th is that those who enacted it intended it to be about gold — meaning, honest money defined in law and certain contracts in terms of gold. Its authors meant to protect the right of such debt holders to be repaid in gold, or the equivalent in paper money.”

USAGOLD note: We note with interest that President Ulysses S. Grant  (photo insert) declared at the time that the US should pay its debts in gold as a matter of national honor. If that were to occur today, it would wipe out the US gold reserve of 8133 metric tonnes. The Sun delves into what the Fourteenth Amendment is really all about.

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