The united states to abandon it and legislation was

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the United States to abandon it, and legislation was passed that allowed the Federal Reserve to expand the supply of paper money irrespective of gold reserves. Review the economic policies below by explaining each one’s purpose and impact on the American economy.
6 Legal Tender Act 1862 National Banking Act 1863 Purpose: Authorized creation of paper money not redeemable in gold or silver Impact on economy: Created a currency easier to exchange, improved economy Purpose: Create a national banking system and create a national currency Impact on economy: Good? For post-Civil War Coinage Act 1873 Specie Payment Resumption Act 1874 Purpose: Rewrote laws regarding mint and coinage issues Impact on economy: Minimal? Purpose: Withdrew the last of the greenbacks from circulation Impact on economy: Removed paper money, bad for economy Bland Allison Act 1878 Gold Standard Act 1900 Purpose: Require US treasury to purchase silver to be put into circulation as dollars and other coins Impact on economy: Dropped price of silver Purpose: established gold as the only standards for redeeming paper money Impact on economy: stopped bimetallism Does gold back up our paper money today? (Federal Reserve Notes) No Do you think it should? No From Populists to Progressives… Connecting Units 5 & 6… (Periods 6 & 7) Key Concept 7.1 Part I: The continued growth and consolidation of large corporations transformed American society and the nation’s economy, promoting urbanization and economic growth , even as business cycle fluctuations became increasingly severe. 6. Answer the following questions by reviewing main events, defining terms, and analyzing significance in the spaces provided. Highlight Cues. Question: Identify the events that led to the Progressive Era, and explain who the Progressives actually were. Answer/Main Events/Ideas Definitions/Explanations Analysis
7 The cause of the Progressive movement originated mainly in the radical changes in American society during the Gilded Age. As farmers and workers responded to these changes, states began reforming and eventually the federal government began addressing some issues. As cities grew, more individuals also tried to solve new problems. Granger Laws ICC Populist Party Granger Laws… laws regulating the rates charged by railroads and elevators ICC… had power to investigate and prosecute pools, rebates, and other discriminatory practices Populist Party… demanded restoration of government to the people and were determined to do something about the concentration of economic power in the hands of trusts and bankers Jane Addams… leader of social justice movement that workers for political support for immigrants, working class, and women To what extent did the Progressive Movement (Era) begin prior to Theodore Roosevelt becoming President in 1901? Progressive Era was already developing as people recognized the corruptness within society and the economy and strived for change Identify the event that ushered in the Progressive Era : Swearing in of president Theodore Roosevelt in 1901
Jane Addams

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