HR 5658 · 96th Congress · Finance and Financial Sector

Sound Money Act of 1979

Introduced 1979-10-19· Sponsored by Rep. Paul, Ron [R-TX-22]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking, Finance and Urban Affairs.(1979-10-19)

Plain Language Summary

[AI summary unavailable — showing source text] Sound Money Act of 1979 - Directs the Secretary of the Treasury to redeem in gold bullion or coin of nine-tenths five gold all Federal Reserve and United States notes presented for redemption on or after October 5, 1981. Establishes the rate of redemption at the ratio prevailing between dollars and nine-tenths five gold on the New York spot gold market at the close of business on October 2, 1981.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (2)

1 Democrat1 Republican
Rep. McDonald, Lawrence P. [D-GA-7]
Rep. Crane, Philip M. [R-IL-12]IL