U.S. Currency Act declares money redeemable in gold

Historical Context Note

The Literary Encyclopedia. Volume 3.2.3: American (US) Writing and Culture: The Early Twentieth-century , 1900-1945.
Vol. editors: J. Michael Duvall (College of Charleston), Emory Elliott (University of California, Riverside), Dale Enggass (University of Utah), Matthew Hofer (University of New Mexico), Stephen E. Meats (Pittsburg State University), Tony Papanikolas (San Jose State University), Justin Parks (UiT - The Arctic University of Norway), Nick Selby (University of East Anglia)

Domains

Business, Commerce and Trade

Dates

Date of occurrence 1900

Places

United States (Location)

Resources

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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.

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