President McKinley signs the Gold Standard Act, which fixes the standard of value for all money issued or coined by the United States. It marks a victory for the so-called “goldbugs” from the Northeast and urban Midwest who pushed for gold-backed currency to stabilize industrial investment. Likewise, it is a crushing defeat for the free silver forces from the South and West who advocated silver coinage as a way to flush the agricultural economy with more available currency.
Exhibit exists
False