There is a strong historical and constitutional case for using gold and silver as money in the United States. Our Founding Fathers understood the value of using honest weights and measures, and understood that gold and silver have historically fulfilled that role.
However, just as with reading Scripture, context is king. We must take into account that our Founders generally viewed money and monetary systems from within their existing Western paradigm. Their understanding of money was based on a system that originated in the 1600s, first with Sweden’s central bank, then soon followed by the establishment of the Bank of England.
This type of monetary system could be expected to arise when the form of government is a monarchy, such as was the case in England in the 1600s. All citizens were subject to the king, and his interests were favored over those of his subjects. Yet the representative republic that was birthed with the adoption of our Constitution sought to eliminate the possibility of a monarchy (or any other form of tyrannical government) rising within the United States. Read more