were already legal tender for taxes, although the market price of their metal content currently exceeds their monetary value. As of 2011 similar legislation was under consideration in other U.S. states. The bill was initiated by newly elected Republican Party legislators associated with the Tea Party movement and was driven by anxiety over the policies of President Barack Obama. In 2013, the Arizona Legislature passed SB 1439, which would have made gold and silver coin a legal tender in payment of debt, but the bill was vetoed by the Governor. In 2015, some Republican candidates for the 2016 presidential election advocated for a gold standard, based on concern that the Federal Reserve's attempts to increase economic growth may create inflation. Economic historians did not agree with the candidates' assertions that the gold standard would benefit the U.S. economy. See also A Program for Monetary Reform (1939) – The Gold Standard Bimetallism/Free Silver Black Friday (1869)—Also referred to as the Gold Panic of 1869 Coinage Act of 1792 Coinage Act of 1873 Executive Order 6102 Fiat money Full-reserve banking Gold as an investment Gold dinar Gold points Hard money (policy) Metal as money Metallism International institutions Bank for International Settlements International Monetary Fund United Nations Monetary and Financial Conference World Bank References Sources Cassel, Gustav. The Downfall of the Gold Standard. Oxford University Press, 1936. Drummond, Ian M. The Gold Standard and the International Monetary System 1900–1939. Macmillan Education, LTD, 1987. Further reading Also published as: Coletta, Paolo E. "Greenbackers, Goldbugs, and Silverites: Currency Reform and Politics, 1860-1897,” in H. Wayne Morgan (ed.), The Gilded Age: A Reappraisal. Syracuse, NY: Syracuse University Press, 1963; pp. 111–139. External links 1925: Churchill & The Gold Standard - UK Parliament Living Heritage What is The Gold Standard? University of Iowa Center for International Finance and Development History of the Bank of England Bank of England Timeline: Gold's history as a currency standard Gold Economic history of Japan Economic history of the United States History of banking History of international trade Monetary policy