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Proposal that Va. study minting its own money dies in Senate

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A proposal that Virginia study the feasibility of creating its own metallic currency in the event of a national economic collapse was rejected Tuesday by the state Senate.

The 40-member Senate, which is split evenly between Democrats and Republicans, killed the resolution two weeks after it was passed by a two-thirds margin in the GOP-led House.

The proposal was submitted by Delegate Robert G. Marshall, Prince William Republican and one of the General Assembly's most conservative members.

Mr. Marshall's proposal, which would have allowed a subcommittee to study the issue, drew praise from conservative supporters who said the state should prepare for a worst-case scenario but was derided by many Democrats as needlessly paranoid.

The Senate Rules Committee amended the resolution last week to allow a panel to study the issue but barred it from exploring the possibility of Virginia creating its own currency, after at least one Republican argued that the state minting its own money would violate the Constitution.

The amended proposal was killed by the full Senate on Tuesday.

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