TREASURY TRUST BONDS – States findings of the Legislature, provides support for treasury trust bonds, and urges Congress to enact enabling legislation authorizing the Secretary of the Treasury to issue treasury trust bonds.
Summary
SJM113 is a joint memorial that states the Legislature’s findings about the history of money in the United States and argues that the nation moved away from a precious-metals-based monetary system over time. The memorial urges Congress, the U.S. Treasury Department, and the President to authorize and issue a tranche of 50-year Treasury bonds backed by gold, with issuance proposed for July 4, 2026 and redemption on July 4, 2076.
The measure is not a state regulatory bill and does not create or amend Idaho statutes. Instead, it expresses support for a federal policy proposal and asks federal officials to take action. The memorial also includes a fiscal note stating that it would have no impact on the state budget because it is only a recommendation to the federal government.
Impact
SJM113 would not directly change Idaho law, impose state requirements, or appropriate state funds. Its practical effect is limited to a formal legislative statement supporting federal legislation or executive action related to gold-backed Treasury bonds and a proposed “treasury trust bonds” framework. Any legal or financial consequences would depend entirely on future federal action, not on this memorial itself.
Sentiment
The available context suggests the bill is strongly supported by its sponsors and framed as a pro-sound-money, anti-fiat-currency statement. There are no recorded votes or committee transcripts showing opposition or debate in the provided materials. The tone of the bill text is advocacy-oriented and historically grounded, presenting the proposal as a corrective to modern monetary policy.
Contention
The main point of contention is the underlying monetary theory: supporters argue that gold-backed bonds would restore sound money principles and strengthen confidence in U.S. finance, while critics would likely question the practicality, necessity, and economic implications of tying federal debt instruments to gold. Because the memorial only urges federal action, another possible issue is whether the Legislature should weigh in on national monetary policy at all. No specific objections are documented in the provided record.