WASHINGTON Aug 23 The Republican Party is set
to call for the creation of a commission to look at restoring a
link between the U.S. dollar and gold severed 40 years ago, the
Financial Times reported on its website Thursday.
Drafts of the party platform to be adopted at the Republican
National Convention next week in Tampa, Florida, also call for
an audit of Federal Reserve monetary policy, the paper said.
Marsha Blackburn, a Republican congresswoman from Tennessee
and co-chair of the platform committee, was quoted as saying
these points are not an effort to placate libertarian
Representative Ron Paul and the delegates he picked up during
his campaign for the party's nomination.
"These were adopted because they are things that Republicans
agree on," Blackburn told the Times. "The House (of
Representatives) recently passed a bill on this, and this is
something that we think needs to be done."
Blackburn could not immediately be reached for comment. A
spokeswoman for the Republican National Committee did not
respond to a request for comment.
The proposal is reminiscent of a "Gold Commission" created
by former President Ronald Reagan in 1981, 10 years after
President Richard Nixon broke the link between gold and the
dollar during the 1971 oil crisis. That commission ultimately
supported the status quo.
The Republicans are finalizing their platform, a nonbinding
statement of principles that will come up for a vote at the
convention to nominate Mitt Romney as President Barack Obama's
challenger in the Nov. 6 general election.