The act led to controversial results and was denounced by critics as the crime of '73 . By 1869, the mint act of 1837, enacted before the california gold rush or the american civil war affected the. This presentation is centered around a paper milton friedman published in 1990 (the crime of 1873, namely, in the jpe) about the silver agitation in the usa during the last quarter of the 19th century.

Congress's decision to eliminate the silver dollar as a standard unit of currency and move toward a gold standard, effectively demonetizing silver. When congress stopped the coinage of the silver dollar against the will of the farmers and westerners who wanted unlimited coinage of silver. With no silver coming into the federal government, no silver. In 1873, congress had de-monetized silver, thus tying the nation's monetary system firmly to the gold standard. The bland-allison act was labeled the crime of '73 by western mining interests and.

The bland-allison act was labeled the crime of '73 by western mining interests and.

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