Under the gold standard, the value of the dollar would be fixed to a certain amount of gold
NEW BRUNSWICK, N.J. (AP) — Republican Jeff Bell spent three decades in Washington working on policy and wrote a book promoting all aspects of social conservatism. But so far his campaign for the U.S. Senate has centered on just one issue: returning the United States to the gold standard.
“We are in a situation of stagnation,” Bell said earlier this month in a speech to a real estate conference in New Brunswick. “Why don’t they let market interest rates return to our economy?”
Like other supporters of the gold standard, Bell is an acolyte of Ronald Reagan and Jack Kemp, the late congressman, secretary of housing and urban development and vice presidential nominee who made the call for cutting taxes to stimulate the economy part of a national debate in the late 1970s. Bell, now 70, won the Republican nomination for a New Jersey U.S. Senate seat in 1978 largely by advocating the kind of Reagan-era tax cuts some credit with spurring the economy.