Why should New Hampshire provide its citizens with monetary freedom of choice?
Monetary freedom of choice is necessary to stimulate and aid the circulation of United States silver and gold coin as media of exchange in normal transactions between New Hampshire and its citizens. This will provide the State and its citizens with some level of insurance against monetary and banking crises that can seriously undermine the value of irredeemable United States paper currency and base-metallic coin. Such insurance is necessary because, under the present Federal Reserve System, monetary and banking crises are likely, if not almost assured. The Federal Reserve System is a central bank that operates on the principle of “fractional reserves”: that is, the System has insufficient “reserves”, or stocks of “lawful money”, to redeem all of its notes and deposits on demand. For that reason, the System is always prone to a catastrophic “bank run”, should the public lose confidence in its policies. Furthermore, the Federal Reserve Note is a near-fiat currency, redeemable only in Uni
