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.
Please log in to consult the article in its entirety. If you are not a subscriber, please click here to read about membership. All our articles have been written recently by experts in their field, more than 95% of them university professors.