jan 1, 1900 - The Gold Standard Act
Description:
In 1900, the Gold Standard Act defined the value of a U.S. dollar as equal to 1/20.67 of an ounce of gold. This meant that paper money could be exchanged for gold at the Treasury. It brought stability to the currency by linking it to a fixed amount of gold, but it also restricted flexibility in monetary policy.Added to timeline:
Date:
jan 1, 1900
Now
~ 126 years ago