Thursday, June 04, 2009

Dear Congressman Griffith

Before entering office, you gave your solemn word to support the U.S. constitution. Article I, Section 8 of that instrument invests in the Congress oversight of the currency of the United States: “The Congress shall have power to … coin money, regulate the value thereof, and of foreign coin …”

As an aside, the English verb coin has a couple of meanings. One is to stamp metal with guarantees of weight and fineness. The other is to invent out of thin air, as in “coin a phrase.” The delegates in Philadelphia clearly intended the first sense, but others have substituted the latter via stealthy amendments.

I write to urge you to join with 186 (as of this writing) of your colleagues in the people's House and cosponsor HR 1207, the Federal Reserve Transparency Act.

In earlier correspondence, you passed the buck to the Financial Services Committee, writing that you will keep my views in mind "should this legislation reach the House floor for a vote." More than forty percent of your fellows have forsaken the slick politician's fence-sitting, non-committal, wait-and-see opportunism in favor of leadership by taking clear stands.

In the same letter, you assured me that you “support the highest level of accountability.” HR 1207's sunshine on the Federal Reserve, a body that acts in your name thanks to the oath of office you took willingly, would create accountability where secrecy and subterfuge have been the standard, and your active support would demonstrate your commitment to open, honest, accountable government.

Sincerely yours,
Greg Bacon

UPDATE: Mr. Griffith has cosponsored HR 1207!

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