Gold Standard Act:: Putting the United States on the Gold Standard in 1890
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The Gold Standard Act of 1890, following the monetary difficulties connected with the bimetallic controversy and the silver legislation of 1878, 1890 and 1893, enacted into statute what had been the de facto reality since 1879. The gold dollar was declared to be the standard unit of value.
The Gold Standard Act was the pinnacle of Republican monetary conservatism, making gold the standard for all of the nationís currency. The Treasury was required to maintain a minimum of $150 million in gold reserves and the price of gold was set at $20.67 per ounce.
The measure was actually anticlimactic. The agitation for silver had dropped sharply as the depression of the 1890s had waned and as new discoveries of gold had been made in the Klondike, South Africa and Australia.
Gold Standard Act- March 14, 1900
... Gold Standard Act- March 14, 1900 An Act To define and fix the standard of value, to maintain the panty of all forms of money issued or coined by the United States, to refund the public debt, and for other purposes. Be it enacGold Standard Act- March 14, 1900 An Act To define and fix the standard of value, to maintain the panty of all forms of money issued or coined by the United States, to refund the public debt, and for other purposes. Be it enacted . ., That ...
The Gold Standard in the United States
From 1862 until the resumption of 1897 gold had been above par, reaching the high premium of 285 in 1864. It first touched par a few days before January 1, when the Resumption Act came into force. Return to The Great Republic by the Master ...
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