A History of the Demonetization of Silver

Cover A History of the Demonetization of Silver
A History of the Demonetization of Silver
Daniel Reaves Goodloe
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" January 14, 1875, six months after the adoption of the Revised Code, which demonetized the silver dollar, President Grant sent a. Message to Congress approving the Resumption Act, in which he said : 11 With the present facilities for coinage, it would take a period probably beyond that fixed by law for final specie resumption to> coin the silver necessary to transact the business of the country. *' He therefore recommended the establishment of new mints atr Chicago, Omaha, or St. Louis, and h...e thus showed his ignorance of the fact that he had signed an act which demonetized silver.
May 1, 1876, Mr. FROST, of Massachusetts, introduced a joint Resolution (H. R. 109) for the issue of silver coin, which was read a first and second time and referred to the committee on Banking and Currency and ordered to be printed.
May 2, Mr. PAYNE, of Ohio, by unanimous consent, submitted a. Report from the Committee of Banking and Currency, and upon the resolution which was referred to it yesterday in regard to silver coin.


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