Bill Text: HI HCR110 | 2024 | Regular Session | Introduced

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Bill Title: Urging The President Of The United States And United States Congress To Return The United States Monetary System To The Gold Standard.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced) 2024-03-13 - Referred to FIN, referral sheet 21 [HCR110 Detail]

Download: Hawaii-2024-HCR110-Introduced.html

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HOUSE OF REPRESENTATIVES	H.C.R. NO.	110
THIRTY-SECOND LEGISLATURE, 2024
STATE OF HAWAII

HOUSE CONCURRENT

RESOLUTION

 

 

URGING THE PRESIDENT OF THE UNITED STATES AND UNITED STATES CONGRESS TO RETURN THE UNITED STATES MONETARY SYSTEM TO THE GOLD STANDARD.

 

 

 

     WHEREAS, the gold standard is a monetary system in which the value of a currency is supported by a gold reserve; and

 

     WHEREAS, the United States monetary system was based on variations of the gold standard until 1971, when President Richard Nixon directed the United States Treasury to suspend its use; and

 

     WHEREAS, President Nixon's abandonment of the gold standard was a contributing factor in the 1973-1975 recession and the instability of floating currencies; and

 

     WHEREAS, severing the link between the dollar and the country's gold reserves has allowed increased government spending and contributed to the growing national debt; and

 

     WHEREAS, returning the United States monetary system to the gold standard would help limit government spending, reduce the risk of economic crises, and help the country avoid future recessions; now, therefore,

 

     BE IT RESOLVED by the House of Representatives of the Thirty-second Legislature of the State of Hawaii, Regular Session of 2024, the Senate concurring, that the President of the United States and United States Congress are urged to return the United States monetary system to the gold standard; and

 

     BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the President of the United States, Secretary of the Treasury, and members of Hawaii's congressional delegation.

 

 

 

	OFFERED BY:	_____________________________

Report Title:

Gold Standard; Currency; United States Treasury; United States Congress; President