The Crime of 1873, also known as the Coinage Act of 1873, was a law enacted by the United States Congress which discontinued the practice of using silver as a standard for currency. The law was a direct result of the massive increase in the price of silver due to the discovery of silver deposits in the western United States. The new law demonetized silver, making it illegal for citizens to use silver coins as currency. The Crime of 1873 had a profound impact on the American economy, and is widely considered to be one of the primary causes of the Panic of 1873. What was happening in 1873? In 1873, the United States Congress passed the Comstock Act, which made it illegal to transport "obscene, lewd, or lascivious" material through the U.S. mail. The law was named for Anthony Comstock, a prominent campaigner against vice who was appointed to enforce the act. The Comstock Act was the first federal law to criminalize pornography, and it set a precedent for future legislation on the subject.
What led to the change in the US government's policy towards Native Americans in the middle of the nineteenth century? The United States government's policy towards Native Americans changed in the middle of the nineteenth century for a variety of reasons. The most important factor was the increase in settlement in the West and the resulting conflict between settlers and Native Americans. The government also began to see Native Americans as a potential source of labor, and as a result, began to promote assimilation and acculturation. In addition, the rise of the abolitionist movement led to increased pressure on the government to end the practice of Native American slavery. Why did the US mint stop using silver? The US mint stopped using silver because of the Coinage Act of 1965. This act eliminated the requirement that silver be used in US coinage, and instead allowed the use of copper-nickel alloys. The primary reason for this change was to reduce the cost of minting coins, as silver is a relatively expensive metal. Additionally, the use of copper-nickel alloys was seen as more durable and resistant to corrosion than silver, which was seen as a positive attribute given the large number of coins produced by the mint each year.
What did the Coinage Act reverse?
The Coinage Act reversed the policy of the government regarding the value of money. The act declared that the dollar was the official unit of currency in the United States and that the value of gold and silver coins would be based on their weight in gold or silver. This policy change led to an increase in the value of gold and silver, and a decrease in the value of paper money. What caused the silver devaluation in 1873? The silver devaluation in 1873 was caused by the demonetization of silver by the United States and several other countries. This led to a decrease in the demand for silver, and a consequent decrease in the price of silver.