Gold Standard Act of 1991

Summary

Gold Standard Act of 1991 - Requires the Secretary of the Treasury, beginning on October 1, 1989, to issue only obligations that: (1) yield not over 2.5 percent annually; (2) may not be redeemed before October 1, 2029, or issued for less than a 25-year maturity; (3) are redeemable in gold Eagle coins; and (4) are known as Eagle Bonds. Requires all U.S. currency to be redeemable in gold Eagle coins which shall be the standard unit of value of money for the United States beginning on October 1, 1990. Directs the Secretary to: (1) mint and issue Eagle coins; (2) maintain all forms of U.S. currency and coin at a parity of value with the Eagle coin; (3) post a daily bid and ask price for gold for the period of October 1, 1989, to October 1, 1990; and (4) establish and fix the official rate of parity between the Eagle coin and the dollar as the arithmetic mean between the bid price and the ask price for gold on October 1, 1990.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 3 June 1991

   Introduced

   Referred to the House Committee on Banking, Finance + Urban Affrs.

   Source: IntroReferral

2. 3 June 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 June 1991

   Introduced

   Introduced in House

   Source: IntroReferral

4. 17 June 1991

   Referred

   Referred to the Subcommittee on Consumer Affairs and Coinage.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 June 1991

  Open at official source

Sponsors

• Rep. Dannemeyer, William E. [R-CA-39] · R · Sponsor
• · hsba00 · Standing

Related records

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