December 20, 2018
Following the controversies and fiscal problems resulting from of the Coinage Act of 1873, compensatory measures were taken by the Treasury and the US Mint to resume more normal issuance and circulation of US Currencies. Silver coins were made legal tender at their nominal value for any amount not exceeding $5
Continue Reading
December 13, 2018
Perhaps no 19th Century law relating to the coins and currency of the United States has been so widely discussed, or has borne more directly on the attitude and influence of political parties than the Coinage Act of 1873. This act grew out of a proposition to revise our coinage laws, made by John Jay Knox, in April, 1870. While the main focus of the bill was to revise several laws pertaining to the Mint’s gold and silver coin procedures, the Coinage Act of 1873 also recommended moving the United States off of bimetallism in favor of the gold standard.
Continue Reading
November 23, 2018
The first American Colonists faced a problem: They didn’t have enough currency. Bitcoin—and today’s other cryptocurrencies—solve old problems of currency and create new limits on how it’s used. Perhaps the problems with money debated by the founding fathers of the United States and the problems associated with cryptocurrencies are not problems at all. These are the points of contention at the heart of all fiscal systems - and those which are inherent to their respective successes.
Continue Reading