General discussion

Looks like the founding fathers never anticipated inflation

as the text of the 7th amendment reads;

In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise re-examined in any Court of the United States, than according to the rules of the common law.

I guess $20.01 was worth a fight back then. I just found the mention of a specific amount to be interesting amid other talk about constitutional relevance and interpretation.Wink

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$20 in Gold

Founding Fathers believed in hard currency, so how much would the weight of two $10 gold pieces be worth today? In 1933 or thereabouts after Roosevelt took all the gold in at $20 and then devalued it to $35 and ounce might be a starting point. I'm guessing an ounce of gold just before the depression, so maybe it was 2 ounces in our Founding Father's day. Today that would be about $900-950 depending if you are talking just gold by weight.

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But is it by weight?

If not, then it seems, $20 in gold = $20 in gold.

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But,

The most brilliant part of the Constitution is that it is intentionally ?vague?. For example, the First Amendment doesn?t mention radio or television or the internet yet it still applies to them. The $20 is one of the few specifically mention items. It?s the greatest document ever.

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