US Constitution Article 1, Section 8, Clause 5
[The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
Explained on the Annotated Constitution website.
Milton Friedman Teaches Monetary Policy
See also the Free To Choose website.
Inflation is not a capitalist phenomenon, it is not a communist phenomenon, it is a printing press phenomenon…
You must ask why is it that the quantity of money increases too rapidly… There has never in history been an inflation that was not accompanied by an extremely rapid increase in the quantity of money. There has never in history been an extremely rapid increase in the quantity of money without and inflation.
Henry Ford - My Life And Work
"My Life and Work" is an autobiographical book by Henry Ford, the pioneering American industrialist and founder of the Ford Motor Company. Published in 1922, it offers insights into Ford's business philosophy, his revolutionary approach to manufacturing through the implementation of assembly line techniques, and his perspectives on entrepreneurship and innovation. Ford shares his principles of mass production, efficiency, and the importance of creating products that benefit society at large. The book provides a firsthand account of Ford's journey from humble beginnings to becoming one of the most influential figures in industrial history.
The people must be helped to think naturally about money. They must be told what it is, and what makes it money, and what are the possible tricks of the present system which put nations and peoples under control of the few.
New York Times - Ford Sees Wealth In Muscle Shoals
An article in the New York Times from Dec 06 1921; Ford Sees Wealth In Muscle Shoals:
Well, Congress must fall back on the old way of doing business It must authorize an issue of bonds. That is, it must go out to the money brokers and borrow enough of our own national currency to complete great national resources, and then we must pay interest to the money brokers for the use of our own money.
The Standard of Measurement
Congressional Record: Charles Binderup. 75th Congress. Feb 16 1937. Vol. 1, Part 2, pp. 1234.
If you remember, when we were kids the school teacher said: "Come up and sit down here on the front bench, Johnnie, Willie, Mary. We are going to take up a very important subject this morning. We are going to take up in arithmetic that most important thing, measurement."
Then, if you remember, she told us how important measurement was, how United States Ambassador to Great Britain, Albert Gallatin, had sent over to the United States a weight that constituted a troy pound; that it was so important that John Quincy Adams, at that time President of the United States, left Washington, went to Philadelphia to receive it, and together with other men carried it to Washington, and in the presence of many broke the seal of the package and placed it in the vault of the United States Bureau of Standards, Weights, and Measures. You will remember how she told us that later on we had a great convention at which the length of the yard and the kilometer were determined, and so on, and how each one of the nations was furnished a kilometer with which to determine length, and so on. She told us all about this. Do you remember, she took out a foot ruler and she said: "Here is 12 inches, a foot, which is used to measure the lumber for building your homes, to measure your land? Here is a yardstick that is used for measuring broadcloth, and so on."
She touched all those things down along the line, but she stopped at the critical point; she failed to say one thing, and humanity -has suffered because she forgot it-she did not hold out a dollar and say, "Here is a dollar, the measure of value, most important measure of all - a dollar that measures the sweat of the brow of man."
The dollar, Mr. Chairman, is more important than all the rest because, when every commodity has been measured by its own measure, it is then measured by a dollar, by money, the measure of value. You used this measure of value first in your life when as a child you bought your first stick of candy; and then you continued to use it every day of your life, from morning until night, no matter what business you were in or if you were in any business, until the doctor and the undertaker were paid at the other end of life; and like children in darkness we have groped, trying to find the way, because we did not understand how money measures value.