Money, Gold, and History

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Money, Gold, and History

In Money, Gold, and History, Lewis E. Lehrman raises three questions:

1) Will the perennial global monetary crisis and the century-old age of inflation still be underway a generation from now?
2) Will the global economy have succumbed to national rivalries, mercantilism, financial disorder, and entropy?
3) Or, will monetary order have been restored by the leading nations of the world in their own self-interest?

The solution is authorized by the United States Constitution in Article I, Sections 8 and 10 whereby the control of the quantity of dollars in circulation is entrusted to the hands of the people because the definition of the dollar was entrusted to Congress. In 1792, Congress defined by statute the dollar as a specific weight unit of precious metal.