Gold – Memorial Day Reflections
The Founding Fathers Liked Gold
With Memorial Day less than a week away, what better way to celebrate than to buy gold!
You can be sure more than a few of our nation’s Founding Fathers owned gold and silver coins to preserve wealth at a time when paper currency wasn’t worth a Continental.
Washington, Adams, Jefferson, Hamilton, Franklin, and Madison, each likely held gold coins as a form of saving and to preserve wealth during years of high inflation. And they all, each and every one of them, while distrustful of paper currency, believed there should be a role for gold in the young nation’s monetary and banking system.
Alexander Hamilton, the nation’s first Secretary of the Treasury under President Washington, was responsible for our young nation adopting a bi-metalic standard with the dollar officially defined by fixed weights of gold and silver. Indeed, the Coinage Act of 1794 set the dollar’s value at 3…