January, 1875

Washington City, District of Columbia

Economy

The Resumption Act of 1875 was intended to shift America away from the paper currency “greenbacks' that had developed during the Civil war and to return to a gold standard. This was largely accepted except by those who promoted a silver standard as well, who felt that greenbacks were good because they could be traded for either gold or silver. This act provided for the redemption of US greenbacks,...