A bill for an act relating to the establishment of a transactional currency based on gold and silver held in a bullion depository approved by the treasurer of state, and providing fees.

This bill proposes the creation of a new type of currency in Iowa that would be backed by gold and silver stored in a special depository. The depository would need to be approved by the state's treasurer. Additionally, the bill outlines the fees associated with using this currency.

Supporters of the bill argue that establishing a currency backed by precious metals like gold and silver would provide a stable alternative to fiat money and protect citizens from inflation. They believe this move would enhance financial security and promote economic independence in Iowa.

Critics of the bill contend that creating a currency based on gold and silver could complicate the state's financial system and lead to instability. They also warn that it may divert resources from more pressing economic issues and could alienate businesses and consumers who prefer traditional currency systems.