Is the present supply of United States silver and gold coin sufficient for the purpose of bringing monetary freedom of choice to New Hampshire; or will the United States Treasury have to mint more?
The present supply of United States silver and gold coin is certainly sufficient for the program the proposed statute sets up in New Hampshire, and most likely sufficient even if all the States implemented similar programs. Critics forget that, in a free market, prices of all goods and services will automatically and correctly adjust to the amount of silver and gold coin in circulation, whatever that may be. Moreover, it is far better to allow the free market to adjust prices to the amount of money in circulation, than to empower monopolistic banks or ponderous government bureaucracies to dictate the supply of money in inevitably futile attempts to control prices. The first method is economically rational, because it integrates the supplies of all nonmonetary goods and services with the supply of money. The second method is economically arbitrary, because there are no rational criteria or standards for how high (or low) prices of goods or services ought to be, and no accurate means to
