mar 14, 1900 - Gold Standard Act (Policy)

Description:

Event: The Gold Standard Act was signed into law by President William McKinley, officially making gold the only standard for redeeming paper currency and ending the debate over bimetallism in the U.S.

Impact: The act made gold the only basis for U.S. money, providing a stable currency that boosted business confidence and supported industrial growth. However, it upset farmers and debtors who wanted bimetallism to create inflation and make it easier to pay off debts.

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