“You can now add Alabama to the list of American states that are taking definite moves to utilize bullion as currency, as that state’s senate has just passed a bill removing sales tax of gold and silver bullion. A similar move recently passed the Utah legislature as it successfully removed sales tax on the Utah “goldbacks”, the local currency that started in Utah and has already spread to being used in some places in Wyoming. Texas, as readers here already know, has opened its state bullion depository, neighboring Oklahoma is considering a similar measure to Alabama’s, Mississippi has already passed one, Tennessee is considering similar measures and its own bullion depository, South Carolina has already passed such a measure…”
Now It’s Alabama and Bullion
Published by markskidmore
Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times. View more posts