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  #21  
Old 09-21-2007, 09:04 AM
Shoonra Shoonra is offline
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It doesn't say that the States can only take gold and silver ... it says that the States can only make gold and silver a legal tender.

That is to say, the States can do this only to make a medium of exchange additional to, or a substitute for, the currency issued by the Australian govt. The States are legally obliged to accept the Australian govt currency, but (in a fairly rare situation, such as a shortage of coins and currency) their only alternative to the govt currency is gold and silver coins, similar to the US Constitution's restriction on American states, which effectively limits the options to the existing coinage issued by those foreign countries that have issued precious metal coinage (coins but not nuggets, dust, or bullion).

Last edited by Shoonra : 09-21-2007 at 09:13 AM.
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  #22  
Old 09-21-2007, 09:13 AM
PANICPASS PANICPASS is offline
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Quote:
Originally Posted by Shoonra
It doesn't say that the States can only take gold and silver ... it says that the States can only make gold and silver a legal tender.

That is to say, the States can do this only to make a medium of exchange additional to, or a substitute for, the currency issued by the Australian govt. The States are legally obliged to accept the Australian govt currency, but (in a fairly rare situation, such as a shortage of coins and currency) their only alternative to the govt currency is gold and silver (the US Constition has a somewhat similar provision that specifies gold and silver coins, apparently the Australians can also accept nuggets, dust and bullion).


I know that it says that the States can only MAKE gold and silver coin. The provision doesn't say, "except in rare situations such as a shortage of coins and currency", just as the US's Constitution doesn't say that. It says states cannot make any Thing but gold or silver coin a tender of payment of debt, which is the same as saying the states cannot accept or take, as tender of payment of debt, any Thing but gold or silver coin.

Back to my point--

If the Commonwealth is a federal commonwealth then why is there a provision for the states to make gold or silver coin the only Thing a tender of payment of debt?

Last edited by PANICPASS : 09-21-2007 at 10:15 AM.
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  #23  
Old 09-22-2007, 06:42 PM
Shoonra Shoonra is offline
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No, presumably a state could authorize the use of gold or silver coin whenever it pleased, but this sort of thing has happened in the US only when there was a shortage of regular federal currency.
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  #24  
Old 09-24-2007, 06:24 AM
coderipley coderipley is offline
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Quote:
Originally Posted by Shoonra
No, presumably a state could authorize the use of gold or silver coin whenever it pleased, but this sort of thing has happened in the US only when there was a shortage of regular federal currency.

And why you are mentioning the US in a thread about Australia I'm still trying to grasp...

Your post is either completely on topic about Australia or it isn't. No comparison should ever be made regarding the US as they're not even on similar political grounds. Canada is, but that's a whole different topic.

I don't wonder why in past threads David Merrill has recommended putting you on the Ignore list.
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