Honest Money Resolution of 2010

The Honest Money Resolution of 2010

For the purpose of urging the Congress of the United States of America to restore honest money backed by silver and gold in accordance with the requirements of the Constitution of the United States of America, phase out Federal Reserve notes, and return to the free market banking practices that the Founding Fathers secured with the provisions of the Constitution of the United States of America.

WHEREAS, There is a nationwide economic crisis; and

WHEREAS, Future recurrences of a similar crisis should be prevented; and

WHEREAS, The Founding Fathers set forth in the Constitution of the United States of America sound monetary policy; and

WHEREAS, The Constitution of the United States of America authorizes Department of Treasury to coin money without interest to the United States of America; and

WHEREAS, Federal Reserve notes are unconstitutional, inflationary and at the heart of the present economic distress; and

WHEREAS, Free market banking practices are in the best interests of the citizens of the United States of America and the best way to ensure the supply and circulation of honest money;  now, therefore, be it

RESOLVED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Congress of the United States of America is urged to:

(1) restore the United States of America’s monetary system to the rule of law, backed by silver and gold, as defined in the Constitution of the United States of America in Article 1, section 8, clause 5, by the re-institution of the pertinent provisions of the Coinage Act of April 2, 1792; and

(2) repeal the Act making Federal Reserve Notes legal tender, and repealing the Federal Reserve Act; and

(3) phase out all Federal laws that are outside to provisions of Article 1, section 8, of the Constitution of the United States of America; and be it further

RESOLVED, That a copy of this Resolution be forwarded by the Department of Legislative Services to the Maryland Congressional Delegation: Senators Barbara A. Mikulski and Benjamin L. Cardin, Senate Office Building, Washington, D.C. 20510; and Representatives Frank M. Kratovil, Jr., C. A. Dutch Ruppersberger III, John P. Sarbanes, Donna Edwards, Steny H. Hoyer, Roscoe G. Bartlett, Elijiah E. Cummings, and Christopher Van Hollen, Jr., House Office Building, Washington, D.C. 20515.

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