Gold Standard

From Part I of A History of Money and Banking in the United States: The Colonial Era to World War II: “The History of Money and Bank

The state makes a mess of everything it touches.

Although he writes with confidence, David Frum's rejection of the gold standard is based on faulty history, bad economics, and a belief in the power of Washington to manage the economy.

The problems involved will become discernible as soon as the wartime attitude in the United States toward financial and trade matters is replaced by a more realistic mentality.

The international gold standard works without any action on the part of governments.

The attempts to create a double standard of gold and silver failed lamentably.

In his meticulously researched two-volume work, Pieces of Eight, constitutional lawyer Edwin Vieira Jr. shows beyond any doubt that the constitutional dollar in the United States is an "historically determinate, fixed weight of fine silver."

"The true villains were clearly the bankers themselves."

Congress decreed that gold and silver dollars should be interchangeable and put upon the Treasury a mandate to keep them equal in value. How?

"Naïve trust in the power of words to command reality is found in all mass delusions."