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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.
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]
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.
In 1873, Congress had removed the use of silver dollar from the list of authorized coins under the Coinage Act of 1873 (referred to by opponents as 'the Crime of '73'"). Although the Bland–Allison Act of 1878 directed the Treasury to purchase silver from the "best-western" miners, President Grover Cleveland repealed the act in 1893. [4]
The Coinage Act of 1792 established the United States Mint and regulated the coinage of the United States. [3] The act created coins in the denominations of Half Cent (1/200 of a dollar), Cent (1/100 of a dollar, or a cent), Half Dime (also known as a half disme) (five cents), Dime (also known as a disme) (10 cents), Quarter (25 cents), Half Dollar (50 cents), Dollar, Quarter Eagle ($2.50 ...
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
Over six days, he summarizes the United States’ financial history from the passage of the Coinage Act in 1792 to 1894, when the pamphlet was published. Coin introduces the audience to what he calls the "Crime of 1873", or the Fourth Coinage Act, which became controversial as the nation's debt and money supply went into doubt after the Civil War.
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the postwar years, Congress and the Treasury considered a revision of the coinage laws, as the act of 1837 was deemed outdated.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 ...