Why should New Hampshire question what the national government is doing with regard to monetary policy?
New Hampshire is not questioning, but is actually implementing, Congres-sional monetary policy. As explained in No. 1, above, Congress has authorized several types of money as official media of exchange, but has not given a special position or preference to any. Through the proposed legislation, New Hampshire will enable its citizens to choose among these various media of exchange, and will facilitate their choices. To fulfill its duty to protect its citizens’ economic welfare, New Hampshire needs to concern itself with the instability of the present monetary and banking regimes. See No. 4, below. Obviously, Congress, too, is concerned with this problem—or it would not have authorized the present multiform monetary system. See No. 1, above.
