Think Freely Media presents Common Sense with Paul Jacob

On Feb. 16, 1878, the Bland-Allison Act, which provided for a return to the minting of silver coins, became U.S. law. Today, the value of American money is secured only by public faith in the stability of the government, but during the 19th Century, money was backed by actual deposits of silver and gold. In 1873, when Congress stopped buying silver and minting silver coins — following the lead of European nations — a financial panic ensued.

By: Redactor

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