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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.
Summary Description Coinage Act 1873.pdf English: This is a draft of the unenacted bill, as passed by the House of Representatives in the form ready to be considered by the Senate.
The revised bill, which came to be known as the Coinage Act of 1873, was approved in the House and Senate and was signed by President Ulysses S. Grant on February 12, 1873. [7] Patterns for the Trade Dollar. The bill provided, in part, for the striking of trade dollars which held legal tender status up to five dollars. [9]
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 ...
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Coinage Act 1891 (54 & 55 Vict. c. 72) Coinage Act 1920 (10 & 11 Geo. 5 c. 3) Coinage Act 1946 (9 & 10 Geo. 6 c. 74) Coinage Act 1971, made provisions for decimalisation of the pound sterling; Coinage (Measurement) Act 2011, amended the Coinage Act 1971 to allow the method for measuring and confirming the weight of coins to be set by proclamation
He is best remembered as a primary author of the Coinage Act of 1873, which discontinued the use of the silver dollar. Knox was Comptroller of the Currency from 1872 to 1884. An advocate of uniform currency for the national banks of the country, his portrait was featured on the obverse of the $100 United States national bank notes of the Series ...
In the postwar years, Congress and the Treasury considered a revision of the coinage laws, as the act of 1837 was deemed outdated. Retention of the two-cent piece was never seriously considered in the debates over what became the Mint Act of 1873 ; the only question concerning the minor coinage was whether to make the cent from bronze or copper ...