Why Congress Should Wisely Restore a Monetary Veto

American democracy prides itself on being “of the people, by the people, and for the people.” But the people lack control over a key part of their daily lives: the money supply. Its expansion and contraction affect the value of every paycheck, every dollar of savings, and the price of virtually everything that can be purchased. Americans once had the ability to redeem their dollars for gold at a fixed rate. Congress should restore that power. Doing so would give every American a direct check on monetary expansion and force Washington to reckon with the consequences of fiscal excess.