29 Jan 1875 Jahr - Resumption Act of 1875

Beschreibung:

required the gov't to continue withdrawing greenbacks from circulation and forced the redemption of war bonds in gold at face value beginning in 1879. "Hard Money" supporters wanted deflation, not inflation by more currency out there. In 1868, the Treasury had already withdrawn 100 million dollars of money printed during the war, The Greenback Party opposed the Resumption Act, and "cheap money" supporters wanted a reissue of Greenbacks which would make debts easier to pay off.

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