A bill to provide for steady, noninflationary growth in the money supply.

Amends the Federal Reserve Act to require that the time, character, and volume of all purchases and sales of paper eligible for open-market operations be governed with a view to: (1) maintaining a constant general level of domestic prices; (2) avoiding destabilizing changes in total purchasing power; and (3) fostering a steady growth in the aggregate of demand deposits and currency in circulation approximately equal to the long-run growth in real national product.