HR 5404 PDF
HR 5404 PDF
115TH CONGRESS
2D SESSION
H. R. 5404
To define the dollar as a fixed weight of gold.
A BILL
To define the dollar as a fixed weight of gold.
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1 (3) American families need long-term price sta-
2 bility to meet their household spending needs, save
3 money, and plan for retirement.
4 (4) The Federal Reserve policy of long-term in-
5 flation has made American manufacturing uncom-
6 petitive, raising the cost of United States manufac-
7 tured goods by more than 40 percent since 2000,
8 compared to less than 20 percent in Germany and
9 France.
10 (5) Between 2000 and 2010, United States
11 manufacturing employment shrunk by one-third
12 after holding steady for 30 years at nearly
13 20,000,000 jobs.
14 (6) The American economy needs a stable dol-
15 lar, fixed exchange rates, and money supply con-
16 trolled by the market not the government.
17 (7) The gold standard puts control of the
18 money supply with the market instead of the Fed-
19 eral Reserve.
20 (8) The gold standard means legal tender de-
21 fined by and convertible into a certain quantity of
22 gold.
23 (9) Under the gold standard through 1913 the
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1 four percent, one-third larger than the growth rate
2 since then and twice the level since 2000.
3 (10) The international gold exchange standard
4 from 1914 to 1971 did not provide for a United
5 States dollar convertible into gold, and therefore
6 helped cause the Great Depression and stagflation.
7 (11) The Federal Reserve’s trickle down policy
8 of expanding the money supply with no demand for
9 it has enriched the owners of financial assets but en-
10 dangered the jobs, wages, and savings of blue collar
11 workers.
12 (12) Restoring American middle-class pros-
13 perity requires change in monetary policy authorized
14 to Congress in Article I, Section 8, Clause 5 of the
15 Constitution.
16 SEC. 2. DEFINE THE DOLLAR IN TERMS OF GOLD.
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1 SEC. 3. DISCLOSURE OF HOLDING.
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