HB1197 would enable Oklahoma residents to use a transaction card to make purchases with gold and silver from a state-approved bullion depository.
The House passed HB1197 on March 24, 2025, by a vote of 77 to 15. We have assigned pluses to the yeas because this bill brings Oklahoma closer to restoring sound money and adhering to the U.S. Constitution's monetary provisions. Article I, Section 10 of the Constitution says that "No State shall … make any Thing but gold and silver Coin a Tender in Payment of Debts." States can and need to act now to protect Americans' financial freedom and privacy by both ending the Federal Reserve's unconstitutional monopoly on money and thwarting government plans to impose a Central Bank Digital Currency.
United States Constitution
Article I Section 10
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
No State shall, without the Consent of the Congress, lay any Imposts or Duties on Imports or Exports, except what may be absolutely necessary for executing it's inspection Laws: and the net Produce of all Duties and Imposts, laid by any State on Imports or Exports, shall be for the Use of the Treasury of the United States; and all such Laws shall be subject to the Revision and Controul of the Congress.
No State shall, without the Consent of Congress, lay any Duty of Tonnage, keep Troops, or Ships of War in time of Peace, enter into any Agreement or Compact with another State, or with a foreign Power, or engage in War, unless actually invaded, or in such imminent Danger as will not admit of delay.
