1. Founding Fathers and the Monetary System

2. Constitution Article 1 Section 8
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; To borrow money on the credit of the United States; To regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes; To establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States; To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;

3. Limited Government
Monetary controls given to the government (congress) in the constitution include;
Borrowing money
Regulate commerce between nations (Tariffs)
Laws on bankruptcy, and fraud
Regulation of a GOLD based monetary system
Provide punishment for fraud and counterfiting

4. Brief History of The Gold Standard
Bimetallism: Before 1875
Classical Gold Standard:
Interwar Period:
Bretton Woods System:
The Flexible Exchange Rate Regime: 1973-Present

5. Apply the previous dates to this graph

6. Founding Father’s Perfect Economy
Limited Government Control
Gold Standard
Punish Fraud and Dishonesty
No Central Bank
No Fractional Reserve Lending

7. Thomas Jefferson on Central Banking
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance[with the people]. This issuing power should be taken from the banks and restored to the people to whom it properly belongs.”
Thomas Jefferson (stated in 1811 when President Jefferson refused to renew the charter for the First Bank of the United States (the 2nd central bank chartered by Congress in 1791))