At least, that’s how I read Senate Bill 916 (in PDF, here), introduced by Senator Gary George (R-McMinnville) in this year’s session of the Oregon Legislature. The bill, if adopted (and I think that’s a big if) directs the Oregon State Forestry Department to go out and reclaim the federal lands in Oregon for the state. It’s short enough that I’ll quote it in full:
A BILL FOR AN ACT
Relating to state lands.
Be It Enacted by the People of the State of Oregon:
SECTION 1. The Legislative Assembly finds that, based on
the Oregon Admission Acts (1859) and other legal and historical
documents, all lands claimed by the federal government in the
State of Oregon are property of this state. The State Forestry
Department shall take all steps necessary to reclaim those lands
for state use.
A similar issue came up in another state, in 1861, and wasn’t settled until 1865. I have visions of armed state foresters proudly seizing Government Camp.
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Wow.
Aloha burning? Stonewall Potter? Vera Katz as Barbara Fritchie?
The possibilities are endless.
Not only that, Oregon could have its own currency, along the lines of the knuts, sickles, and galleons in the world of Harry Potter. I envision naming the units after our political leaders and famous stores, with one unit (like the Susan B. Anthony / Sacagawea dollar) celebrating women, all the while including something to amuse the children.
For example, we could have as the basic unit the kitz (after former Governor Kitzhaber). Seven kitzes could make one katz (after the former mayor), seven katzes could make one sak, and seven saks could make one wife. Even though it’s not decimal, children could remember the system easily.
We already do have our own currency. They are called bonds. At least to the extent that they are treated at face value as currency. They might be denominated in US Dollars but have a fudge factor based on “credit ratings.” Just replace credit ratings with a market determined floating exchange rate and do you have?
It really is indistinguishable from the “currency” in any banana republic, where they too must repay debt in US Currency.
The mechanism for enforcement of the ban on state currency is a tax on the use of it. The size of that “tax” is hardly any more steep than the issuance and use of any bonds, provided that a real economist smashes all the funny presumptions of all the good things that flow from incurring debt.
A little local focus is not all bad. It sure beats the mantra from the Oregon Treasurer’s office of undivided loyalty to the national bond market, and the game of placing gambling bets on Wall Street on the local public’s dime.