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106TH CONGRESS

1ST SESSION S. ll

IN THE SENATE OF THE UNITED STATES

Mr. GRAMM (for himself, Mr. ABRAHAM, Mr. ALLARD, Mr. ASHCROFT, Mr.

BAYH, Mr. BENNETT, Mr. BIDEN, Mr. BOND, Mr. BROWNBACK, Mr.

BRYAN, Mr. BUNNING, Mr. BURNS, Mr. CAMPBELL, Mr. CHAFEE, Mr.

COCHRAN, Ms. COLLINS, Mr. COVERDELL, Mr. CRAIG, Mr. CRAPO, Mr.

DASCHLE, Mr. DEWINE, Mr. DODD, Mr. DOMENICI, Mr. DURBIN, Mr.

ENZI, Mr. FEINGOLD, Mr. FITZGERALD,Mr. GRAMS, Mr. GRASSLEY, Mr.

GREGG, Mr. HAGEL, Mr. HATCH, Mr. HELMS, Mr. HUTCHINSON, Mrs.

HUTCHISON, Mr. INHOFE, Mr. JEFFORDS, Mr. KERREY, Mr. KERRY, Mr.

KYL, Ms. LANDRIEU, Mr. LEAHY, Mr. LOTT, Mr. LUGAR, Mr. MACK, Mr.

MCCONNELL, Mr. MURKOWSKI, Mr. NICKLES, Mr. REED, Mr. REID, Mr.

ROBERTS, Mr. ROTH, Mr. SANTORUM, Mr. SCHUMER, Mr. SESSIONS, Mr.

SHELBY, Mr. SMITH of New Hampshire, Mr. SMITH of Oregon, Ms.

SNOWE, Mr. SPECTER, Mr. STEVENS, Mr. THOMAS, Mr. THOMPSON, Mr.

THURMOND, Mr. VOINOVICH, Mr. WARNER, Mr. WELLSTONE, and Mr.

WYDEN) introduced the following bill; which was read twice and referred

to the Committee on lllllllllllllllllllll

A BILL

To authorize the President to award a gold medal on behalf

of the Congress to Milton Friedman, in recognition of

his outstanding and enduring contributions to individual

freedom and opportunity in American society through

his exhaustive research and teaching of economics, and

his extensive writings on economics and public policy.
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1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled,

3

4 SECTION 1. SHORT TITLE.

5 This Act may be cited as the ‘‘Milton Friedman Con6 gressional Gold Medal Act’’.

7 SEC. 2. FINDINGS.

8 The Congress finds that—

9 (1) Milton Friedman, born July 31, 1912 in

10 New York, New York, is acclaimed as one of the

11 great original thinkers of this century;

12 (2) Milton Friedman is a living American suc13 cess story in rising from poverty in an immigrant

14 family to realize the American dream;

15 (3) Milton Friedman is the world’s most re16 nowned economist;

17 (4) Milton Friedman was awarded the Nobel

18 Memorial Prize for Economic Service in 1976;

19 (5) Milton Friedman is a Paul Snowden Russell

20 Distinguished Service Professor Emeritus of Eco21 nomics at the University of Chicago, where he

22 taught from 1946 to 1976, and where he is widely

23 regarded as the leader of the Chicago school of mon24 etary economics;
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1 (6) Milton Friedman has been a senior research

2 fellow at the Hoover Institute since 1977, and a

3 member of the research staff of the National Bureau

4 of Economic Research from 1937 to 1981;

5 (7) Milton Friedman has selflessly served his

6 country on several occasions, serving as an informal

7 economic advisor to Presidents Richard Nixon and

8 Ronald Reagan;

9 (8) Milton Friedman has been awarded hon10 orary degrees by universities in the United States,

11 Japan, Israel, and Guatemala, as well as the Grand

12 Cordon of the First Class Order of the Sacred

13 Treasure by the Japanese government in 1986; and

14 (9) Milton Friedman is known throughout the

15 world as a champion of freedom, opportunity, free

16 markets, and capitalism.

17 SEC. 3. CONGRESSIONAL GOLD MEDAL.

18 (a) PRESENTATION AUTHORIZED.—The President is

19 authorized to present, on behalf of the Congress, a gold

20 medal of appropriate design to Milton Friedman in rec21 ognition of his outstanding and enduring contributions to

22 individual freedom and opportunity in American society

23 through his exhaustive research and teaching of econom24 ics, and his extensive writings on economics and public

25 policy.
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1 (b) DESIGN AND STRIKING.—For the purposes of the

2 award referred to in subsection (a), the Secretary of the

3 Treasury (hereafter in this Act referred to as the ‘‘Sec4 retary’’) shall strike a gold medal with suitable emblems,

5 devices, and inscriptions, to be determined by the Sec6 retary.

7 SEC. 4. DUPLICATE MEDALS.

8 The Secretary may strike and sell duplicates in

9 bronze of the gold medal struck pursuant to section 3,

10 under such regulations as the Secretary may prescribe,

11 and at a price sufficient to cover the costs thereof, includ12 ing labor, materials, dies, use of machinery, and overhead

13 expenses, and the cost of the gold medal.

14 SEC. 5. STATUS AS NATIONAL MEDALS.

15 The medals struck pursuant to this Act are national

16 medals for purposes of chapter 51 of title 31, United

17 States Code.

18 SEC. 6. FUNDING.

19 (a) AUTHORITY TO USE FUND AMOUNTS.—There is

20 authorized to be charged against the United States Mint

21 Public Enterprise Fund an amount not to exceed $30,000

22 to pay for the cost of the medals authorized by this Act.

23 (b) PROCEEDS OF SALE.—Amounts received from the

24 sale of duplicate bronze medals under section 4 shall be
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1 deposited in the United States Mint Public Enterprise

2 Fund.