Search results
Results From The WOW.Com Content Network
The Coinage Act of 1873 or Mint Act of 1873 was a general revision of laws relating to the Mint of the United States.By ending the right of holders of silver bullion to have it coined into standard silver dollars, while allowing holders of gold to continue to have their bullion made into money, the act created a gold standard by default.
With the Coinage Act of 1873, bimetallism was disestablished by Congress and gold was established as the standard.Despite this, the city of Denver, Colorado enjoyed boomtown growth during the late 19th century after the discovery and development of numerous silver mines and the passage of first the Bland–Allison Act of 1878 and then the Sherman Silver Purchase Act of 1890, both of which ...
In 1873, the government passed the Fourth Coinage Act and soon resumed specie payments without the free and unlimited coinage of silver. This put the U.S. on a mono-metallic gold standard, angering the proponents of monetary silver, known as the silverites. They referred to this act as "The Crime of ’73", as it was judged to have inhibited ...
In passing the Coinage Act, Congress eliminated bimetallism. [8] During the economic chaos of the Panic of 1873, the price of silver dropped significantly, but the Mint would accept none for striking into legal tender. Silver producers complained, and many Americans came to believe that only through bimetallism could the nation achieve and ...
The Coinage Act of 1873 comes into force, ending bimetallism in the U.S. and placing the nation firmly on the gold standard. Hinsdale, Illinois is incorporated. April 13 – Between 62 and 153 Republican freedmen and state militia die in the Colfax massacre while attempting to protect the Grant Parish courthouse, including about 50 who surrendered.
The Comstock Act was passed in 1873, banning anything that could be interpreted as obscene or sexual from the post, as well as contraceptives and abortifacients. Monetary policy of the 1870s centered on addressing the economic fallout of the Civil War and the introduction of paper money, as well as the Panic of 1873 and the resulting Long ...
The Greenbackers condemned the National Banking System, created by the National Banking Act of 1863, the harmonization of the silver dollar (Coinage Act of 1873 was in fact the "Crime of '73" to Greenback), and the Resumption Act of 1875, which mandated that the U.S. Treasury issue specie (coinage or "hard" currency) in exchange for greenback ...
Over six days, he summarizes the United States’ financial history from the passage of the Coinage Act in 1792 to 1894, when the pamphlet was published. Coin introduces the audience to what he calls the "Crime of 1873", or the Fourth Coinage Act, which became controversial as the nation's debt and money supply went into doubt after the Civil War.