1873 Coinage Act

The 1873 Coinage Act was a U.S. law that redefined the nation's currency system. It discontinued the circulation of silver dollars and reduced silver coinage, favoring gold as the standard for money. The act aimed to stabilize the economy by establishing a gold standard, but it also sparked debates over the value of silver versus gold. Many farmers and working-class Americans felt it favored wealthy investors and hurt those relying on silver, leading to the "Silver Question" and political unrest. Essentially, it shifted the national currency focus from silver to gold, impacting monetary policy and economic balance.