The article is too long to post, so I cherry picked a few paragraphs.

"A proposal for the introduction of a silver coin into permanent circulation in the United States:

1. The Treasury shall mint a new silver coin containing one-ounce of pure silver. No engraved monetary value shall appear on the coin.
2. The Treasury shall issue a monetary quote for the coin upon the following basis:

   To the market price of the silver ounce shall be added the cost of minting. The sum shall be multiplied by 1.1 to give the Treasury a seigniorage or profit of 10%. The result shall be increased to the nearest multiple of 50 cents, and this shall be the monetary quote for the silver one-ounce coin.

   (Note: the cost of minting, the multiple to be adopted for seigniorage as well as the multiple for purposes of rounding-out the monetary value of the silver one-ounce coin, are all suggested and can be modified to suit.)

3. When the price of silver rises and impinges upon the seigniorage of the Treasury, the Treasury shall issue a new, higher monetary quote to restore its seigniorage to 10% (plus profit from rounding-out the monetary quote.)
4. When the price of silver falls, the Treasury shall retain its last monetary quote for the silver coin and not reduce it under any circumstances.
5. The Treasury shall mint these silver coins in amounts sufficient to satisfy the market and prevent the appearance of premiums upon the monetary quoted value, because such premiums would seriously detract from the use of the silver coins as money.
6. The Treasury shall be allowed a period of six months to ignore speculative peaks in the price of silver, a period during which the Treasury shall not alter its last quote. (During this period, the American people can be expected to hold on to their monetized silver coins and not turn them in for a profit to those who wish to smelt them for their bullion value, if they know that after a period of at most six months, a new and higher monetary value will be assigned to their coins.)"

"Falls in the bullion price of silver

Should not the monetary value of the silver coin be reduced, when the price of silver falls? The answer is: No!

During the Depression of the 30’s, the price of silver fell drastically. This did not affect the circulation of the beloved silver half-dollars, quarters and dimes. They continued to serve the American people. During that period, the Treasury received a larger profit from minting those coins, because the silver required to mint them cost the Treasury less, but the value – the engraved monetary value – of the coins remained the same.

The same thing will take place when the Treasury monetary quote remains stable when the price of silver falls: the Treasury simply makes a larger profit because its monetary quote, which takes the place of an engraved value, does not diminish.

The rising value of silver, which will continue as long as the fiat monetary system is in operation, will allow Americans to save in a very simple medium which derives its value from its silver content and becomes more valuable when the price of silver rises. This is the greatest possible incentive to popular savings, so desperately needed in America today. (Of course, the fundamental importance of savings is irrationally denied by today’s Keynesian monetary authorities, who are now facing a great collapse which will sweep them away. Britain, the great ally of the US, has announced a fiscal policy which in effect, turns its back on Keynesian economics.)

The falls in the price of silver will not affect savers, for the monetary value of the coin will not fall together with the price of silver. It will remain stable, an absolutely essential element in any monetary unit. As stable as American silver dimes, quarters and half-dollars were during the Depression, when the price of silver fell.

The public will value silver coins more highly than paper money. The silver coin, whose quote will increase with an increase in the price of silver, will assure increased or sustained purchasing power for the public."

"The consequences of monetizing a one-ounce silver coin

Humans can never know all the consequences of any action. We can foresee certain things but must be ignorant of the endless consequences of everything we do. We act because we think that by acting, we will attain a better, preferable situation to that which we have if we do not act. We generally evaluate any action and predict the near-term consequences, expecting to improve our condition.

For long-term consequences we have to rely on philosophy and Austrian Economics.

Can we know all the consequences of putting a silver coin into circulation in the United States? Certainly, we cannot.

However, we know that it will be good for millions of Americans to be able to save silver money and prepare themselves for any adversity; to be able to save in order to have a secure basis for retirement and old age; to be able to save in order to have that precious thing called “peace of mind”.

We also know that powerful interests will not be happy with this measure, because it will cause those interests losses and pain. The banks will not be happy – they want the public to deposit their savings with them; they will not be pleased with the idea that Americans can save excellently by saving their ounces at home.

We know that silver empowers the individual and protects him from tyranny.

We know that those whose lives are linked to tyranny will not approve.

We are confident that putting silver money into circulation in the U.S. will have numberless good effects; that developments favoring prosperity will present themselves spontaneously, thanks to the silver coin in circulation. New things will happen, things like Treasury silver certificates for silver ounces held by the Treasury, which will allow the payment of larger amounts of silver, without the cumbersome movement of heavy weights of silver. Or things like Custody Deposits in banks, where the silver remains the property of the depositor, and can be moved to other accounts by electronic means.

American demand for this coin would be absolutely enormous and undoubtedly force the price of silver much, much higher; the concomitant rise in the monetary value of silver savings would contribute to the recapitalization of the population and most importantly, infuse the American people with hope and optimism regarding the future, fundamental psychological elements of any society.

A humanist philosophy and Austrian Economics allow us to foresee that the favorable consequences of putting a monetized silver coin into the hands of Americans would be vast and reach even into the international sphere, where the American silver coin could easily become an international currency, supplementing the American dollar which is now increasingly coming into disfavor around the world.

This silver money would be in circulation permanently and its existence would be independent of the stability of the financial system. It would be immune to banking crises and since it would not be debt-money, fluctuations in the rate of interest would not imply a shrinking or expansion of the quantity of this money in circulation. It would be immune to dollar devaluation, since the price of silver is determined in the world market for silver.

Monetizing the silver ounce, with a Treasury quote, is not a panacea. It will not solve every problem, for the problems are immense. But it will be a balm for the American spirit, so damaged and divided at present, and it will be a seed from which mighty institutions can grow.

It is up to Americans to exert themselves toward the end of recuperating silver as everyday money for Americans. The consequences of achieving this measure would be world-shaking. I have shown how it can be done, and can do no more."