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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.
By 1890, the alleged plot had been termed the “Crime of 1873”. [3] In 1892, the case was bolstered when Frederick A. Luckenbach gave an affidavit that, when Luckenbach had dined with Seyd in 1874, Seyd had told him just that story. At the time, Luckenbach was selling mining equipment to silver miners in Colorado.
Silver certificates are a type of representative money issued between 1878 and 1964 in the United States as part of its ... Milton (1990). "The Crime of 1873".
The debate over silver lasted from the passage of the Fourth Coinage Act in 1873, which demonetized silver and was called the "Crime of '73" by opponents, until 1963, when the Silver Purchase Act of 1934 (also known as Executive Order 6814), which allowed the President and the Department of the Treasury to regulate US silver, [5] [non-primary ...
It was during his time in Colorado that Harvey became exposed to the idea that the demonetization of silver through passage of the Coinage Act of 1873 had extremely deleterious economic effects on the American economy, including the multiyear Long Depression of 1873 to 1879, the Depression of 1882 to 1885, recessions in 1887 and 1890, and the ...
In 1873, Congress had removed the use of silver dollar from the list of authorized coins under the Coinage Act of 1873 (referred to by opponents as 'the Crime of '73'"). Although the Bland–Allison Act of 1878 directed the Treasury to purchase silver from the "best-western" miners, President Grover Cleveland repealed the act in 1893. [4]
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 1873, the government passed the Fourth Coinage Act and soon resumption to specie payments began without the free and unlimited coinage of silver. This put the U.S. on a mono-metallic gold standard. This angered the proponents of monetary silver, known as the silverites. They referred to this act as "The Crime of '73", as it was judged to ...