Comment: Great system of honest money, but with one flaw.

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Great system of honest money, but with one flaw.

The Coinage Act of 1792 defined the dollar in both silver and gold causing massive outflows/inflows of each as the world Au/Ag ratio changed. A more stable system that I recommend is the dollar defined in silver only and all Federal transactions required in such form. The Feds and states could coin either metal using silver for dollars and gold for eagles with no fixed ratio. States could then decide which form of payment to require. Private contracts could be made in any form.