TeachMeFinance.com - explain Crime of 1873
Crime of 1873 -- A phrase applied to the coinage act of February
12, 1873, which discontinued the coinage of the silver
dollar by omitting it from the list of coins authorized to be
minted (manufactured) by the government.
Advocates of the free coinage of silver later declared that
the act was passed surreptitiously. The bill was before Congress
two years and ten months before it was adopted. It
was printed thirteen times by order of Congress. The debates
on it occupied sixty-six columns in the Senate proceedings
and seventy-eight columns in the House proceedings.
The reason the discontinuance of the silver dollar attracted so
little public notice at the time was that the metal in it was
then worth two cents more than the metal in a gold dollar ; in
other words, a silver dollar was worth $1.02 in gold money.
Consequently the silver dollar did not circulate and was practically
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