1. The Congress of the United States, in the exercise of its power authorized by Article I, Section 8, Clause 5 of the Constitution for the United States of America, “[t]o Coin Money, regulate the Value thereof, and of foreign Coin,” shall enact a statute:
(a) establishing a National Advisory Commission on Alternative and Competitive Currency, and
(b) calling upon each of the several States to establish their own State Advisory Commission on Alternative and Competitive Currency.
2. That the sole purpose of the said Advisory Commissions shall be to study and recommend the means by which each State individually, and the several States and Congress collectively, can promote the adoption by both the several States and the United States, as rapidly as possible, of an economically sound and Constitutional alternative and competitive currency, which shall:
(a) consist exclusively of silver and gold, the units to consist of 371.25 grains (troy) fine silver and 371.25 grains (troy) fine gold, which shall be subject to transfer from one party to another in both an electronic form measurable in any number of units, as well in tenths, hundredths, and thousandths of a unit, and the form of coins (whether of traditional or nontraditional shapes) of convenient weights consisting of multiples of the units or common fractions thereof;
(b) gradually be introduced as the media of exchange in all of the financial transactions of the governments of each of the several States and of the United States, so as in a measured manner to minimize and finally supplant the use in such transactions of Federal Reserve Notes or bank balances payable in those notes to the maximum degree possible consistent with the general welfare; and
(c) eventually supplant the use of such notes or balances in all private monetary transactions within and among each of the several States to such degree as the free market determines economically appropriate.
(d) That the National Advisory Commission shall be composed of the following persons:…{here shall be listed the proposed members of the Commission…}.
3. That, within thirty (30) days from the effective date of the said statute, the National Advisory Commission shall submit to Congress a report containing complete and specific drafts of all such legislation as may be necessary and proper for Congress to enact in order to guarantee that the citizens of each State may employ an alternative and competitive currency in all of their private economic transactions free from any form of taxation, reporting, or other regulation by the United States or any agency thereof, or by any State or agency thereof, that increases in cost, hinders, deters, discourages, delays, or renders cumbersome the use of such currency, or the consummation of transactions in which such currency is the medium of payment, in comparison to the same use of, or the consummation of similar transactions involving, Federal Reserve Notes or bank balances payable in such notes.
4. That, within thirty (30) days of its receipt of the National Advisory Commission’s report submitted pursuant to Paragraph 2, ante, Congress shall enact such legislation as will achieve the goals set out in that Paragraph.
5. That, within ninety (90) days from the effective date of the said statute, the National Advisory Commission shall submit to Congress a report containing complete and specific drafts of all such legislation as may be necessary and proper for Congress to enact in order to achieve the goals set out in Paragraph 2, ante, for the Government of the United States.
6. That, within sixty (60) days of its receipt of the National Advisory Commission’s report pursuant to Paragraph 5, ante, Congress shall enact such legislation as will achieve the goals set out in Paragraph 2, ante, for the Government of the United States.
Learn more about the subject matter of this Article. Read the Money Clauses of the CONSTITUTION. Read the PETITION for Redress of Grievances related to the Federal Reserve System. See the related CC 2009 video presentation: Tom DeWeese, First Delegate from Virginia – reading the submission from Dr. Edwin Vieira, The Power of the Purse; William Bergman, Analyst, Morningstar – My Experiences as an Analyst at the Federal Reserve System; and Robert L. Schulz, Chairman, We The People Foundation for Constitutional Education – comments on PETITION for Redress of Grievances related to the Federal Reserve System.
Additional resources for consideration: PETITION to the Federal Court regarding the unconstitutional bailout of the Mexican Peso. There were four causes of action in this case by Schulz and other Plaintiffs. The fourth was the action by Schulz and others that the attempted $20 Billion bailout of the Mexican Peso by President Clinton and Treasury Secretary Robert Ruben should be declared unconstitutional, null and void. The case was dismissed by the Court for “lack of standing.”