Gold Standard Act of 1900

Until the signing of the Gold Standard Act in 1900, gold and silver were used to establish monetary standards all over the world. The value of each was not well established and to make monetary matters worse, the Civil War was very distractive on the economy  and paper money had no silver or gold backing. The Gold Standard Act was created to take control of monetary policy. The sandard it set 1 oz. of troy gold was $20.67. The act further stated the value of a dollar bill (paper money) in gold and began the issuance of silver certificates to be used in place of silver coin. The Gold Standard Act of 1900 established gold as the more valuable metal.