The Missouri Chamber of Commerce and Industry opposes legislation that would require private businesses to accept gold and silver as payment.
SB194 would make gold and silver legal tender in Missouri.
This new mandate would infringe on the right of business owners to decide which forms of currency they accept – cash, electronic payment, gold and silver, or all of the above.
During a recent hearing before the Senate Insurance and Banking Committee, Missouri Chamber Director of Legislative Affairs Jared Hankinson emphasized that business owners’ ability to set their own workplace policies is a fundamental principle of the free enterprise system.
“We want to avoid a government mandate on businesses that may require businesses to completely re-work their operational models,” Hankinson said.
In addition, the bill states that “costs incurred in the course of verification of the weight and purity of any gold or silver during any such transaction shall be borne by the receiving entity.” This provision would require businesses to bear the time-consuming and costly burden of verifying the weight and purity of the gold and silver.
For more information, contact Hankinson at jhankinson@mochamber.com or call (573) 634-3511.
