U.S. Currency Act declares money redeemable in gold (45 words)

Historical Context Note

Context

In March 1900 US President William McKinley (29th January, 1843 - 14th September, 1901) signed the Gold Standard Act, which established gold as the only standard for redeeming paper money. This was to prevent silver, which was more plentiful, being used to back attempts to increase paper currency.