,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #bdce  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #cj1 #bjbc,mr4   
,mooney 7= himself1 ,mr4 ,biggs1 & ,mr4 
,gos>7 introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,f9ancial     
,s]vices  ,a ,,bill  ,to def9e ! doll> z
 a fix$ weight ( gold1 & = o!r purposes4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,gold ,/&>d ,re/oration ,act4  #b4  
,f9d+s ,congress f9ds ! foll[+3 7#a7 ,! 
,f$]al res]ve note has lo/ m ?an #dj    
p]c5t ( its pur*as+ p[] s9ce #bjjj1 &   
#ig p]c5t ( its pur*as+ p[] s9ce !      
passage ( ! ,f$]al ,res]ve ,act 9 #aiac4
  7#b7 ,"u ! #b p]c5t inflation         
objective ( ! ,bo>d ( ,gov]nors ( !     
,f$]al ,res]ve ,sy/em 79 ?is ,act       
h]eaft] ref]r$ to z ! ,f$]al ,res]ve71 !
 doll> loses half ( its pur*as+ p[] e   
g5]ation1 or #ce ye>s4  7#c7 ,at times1 
includ+ #bjba & #bjbb1 ,f$]al ,res]ve   
actions help$ create inflation rates (  
#h p]c5t or high]1 increas+ ! co/ ( liv+
 = _m ,am]icans to unt5able levels4     

7#d7 ,am]ican families ne$ long-t]m     
price /ability to meet _! h\sehold sp5d+
 ne$s1 save money1 & plan = retirem5t4  
7#e7 ,! ,f$]al ,res]ve policy ( long-t]m
 inflation has made ,am]ican manufactur+
 uncompetitive1 rais+ ! co/ ( ,unit$    
,/ates manufactur$ goods by m ?an #dj   
p]c5t s9ce #bjjj1 comp>$ to less ?an #bj
 p]c5t 9 ,g]many & ,france4  7#f7 ,s9ce 
#bjjj1 ,unit$ ,/ates manufactur+        
employm5t has decl9$ by at lea/ #be     
p]c5t aft] hav+ rema9$ /eady at ne>ly   
#ah1jjj1jjj jobs = m ?an #cj ye>s4  7#g7
 ,! ,am]ican economy ne$s a /able doll>1
 fix$ ex*ange rates1 & money supply     
controll$ by ! m>ket n ! gov]nm5t4  7#h7
 ,! gold /&>d puts control ( ! money    
supply ) ! m>ket in/ead ( ! ,f$]al      
,res]ve1 disc\rages excessive deficit   
sp5d+1 & enc\rages ! balanc+ ( ,f$]al   
budgets4  7#i7 ,! gold /&>d means legal 
t5d] def9$ by & conv]tible into a c]ta9 
quantity ( gold4  7#aj7 ,"u ! gold /&>d 
?r\gh #aiac ! ,unit$ ,/ates economy grew
 at an annual av]age ( f\r p]c5t1       

"o-?ird l>g] ?an ! gr[? rate s9ce !n &  
twice ! level s9ce #bjjj4  7#aa7 ,!     
,f$]al ,res]ve's trickle d[n policy (   
exp&+ ! money supply has prim>ily enri*$
 ! own]s ( f9ancial assets :ile x has   
endang]$ ! jobs1 wages1 & sav+s (       
blue-coll> work]s4  7#ab7 ,re/or+       
,am]ican middle-class prosp]ity requires
 *ange 9 monet>y policy au?oriz$ to     
,congress 9 ,article ,i1 ,section #h1   
,clause #e ( ! ,con/itution4  #c4 ,def9e
 ! ,f$]al res]ve note doll> 9 t]ms (    
gold ,n lat] ?an ! date t is #bd mon?s  
aft] ! date ( ! enactm5t ( ?is ,act--   
7#a7 ! ,secret>y ( ! ,treasury 79 ?is   
,act h]eaft] ref]r$ to z ! ,secret>y7   
%all def9e ! ,f$]al res]ve note doll> 9 
t]ms ( a fix$ weight ( gold1 bas$ on t  
day's clos+ m>ket price ( gold2  7#b7   
,f$]al res]ve banks %all make ,f$]al    
res]ve notes r$eemable = & ex*angeable )
 gold at ! fix$ price det]m9$ "u        
p>agraph 7#a7 & create processes t      
facilitate su* r$emptions & ex*anges    
betwe5 memb] banks & ! public2 &  7#c7  

if a ,f$]al res]ve bank does n fulfill  
its duties "u p>agraph 7#b71 ! ,secret>y
 %all make ! r$emption or ex*ange z     
gu>antor & place a correspond+ fir/ &   
p>am\nt li5 on all assets ( su* bank4   
#d4 ,disclosure ( hold+s ,to enable !   
m>ket & m>ket p>ticipants to arrive at !
 fix$ ,f$]al ,res]ve note doll>-gold    
p>ity 9 an ord]ly fa%ion1 dur+ !        
#bd-mon? p]iod foll[+ ! date ( enactm5t 
( ?is ,act-- 7#a7 ! ,secret>y & ! ,f$]al
 ,res]ve %all ea* make publicly         
available1 9 bo? electronic & publi%$   
=mat1 all hold+s ( gold1 ) a report (   
any pur*ases1 sales1 swaps1 leases1 &   
any o!r f9ancial transactions involv+   
gold1 s9ce ! tempor>y susp5sion 9 ,augu/
 #ae1 #aiga1 ( gold r$eemability        
obligations "u ! ,bretton ,woods        
,agreem5t ( #aidd2 &  7#b7 ! ,secret>y &
 ! ,f$]al ,res]ve %all make publicly    
available1 9 bo? electronic & publi%$   
=mats1 all records p]ta9+ to r$emptions 
& transf]s ( ,unit$ ,/ates gold 9 ! #aj 
ye>s prec$+ ! tempor>y susp5sion 9      

,augu/ #ae1 #aiga1 ( gold r$eemability  
obligations "u ! ,bretton ,woods        
,agreem5t ( #aidd4