About the bill
Since the earliest days of America until 1971, the country had used the “gold standard” for money. Under this system, U.S. currency was backed by physical gold, much of which kept in a heavily guarded location in Fort Knox, Kentucky. This was intended to keep the price of money relatively standard and prevent runaway inflation, i.e. one dollar equals _x _grams of gold.
With a few exceptions, proponents say the system generally worked. Although the value of a U.S. dollar fluctuated a bit — since preventing that entirely would have been impossible — for the most part those fluctuations were far less than they would be after 1971, when the U.S. fully abandoned the gold standard. (They had partially abandoned it for domestic transactions in 1933, and ...
Sponsor and status
Sponsor. Representative for West Virginia's 2nd congressional district. Republican.
Last Updated: Mar 22, 2018
Length: 4 pages
115th Congress (2017–2019)
This bill was introduced on March 22, 2018, in a previous session of Congress, but it did not receive a vote.
Mar 22, 2018
Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.
May 7, 2019
Reintroduced Bill — Introduced
This activity took place on a related bill, H.R. 2558.
H.R. 5404 (115th) was a bill in the United States Congress.
A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.
Bills numbers restart every two years. That means there are other bills with the number H.R. 5404. This is the one from the 115th Congress.
This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not enacted by the end of a Congress is cleared from the books.
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GovTrack.us. (2020). H.R. 5404 — 115th Congress: To define the dollar as a fixed weight of gold. Retrieved from https://www.govtrack.us/congress/bills/115/hr5404
“H.R. 5404 — 115th Congress: To define the dollar as a fixed weight of gold.” www.GovTrack.us. 2018. August 14, 2020 <https://www.govtrack.us/congress/bills/115/hr5404>
To define the dollar as a fixed weight of gold, H.R. 5404, 115th Cong. (2018).
|title=H.R. 5404 (115th)
|accessdate=August 14, 2020
|author=115th Congress (2018)
|date=March 22, 2018
|quote=To define the dollar as a fixed weight of gold.
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