Here is the question :
WHICH PRESIDENT SIGNED THE GOLD STANDARD ACT IN 1900?
Here is the option for the question :
- Theodore Roosevelt
- Grover Cleveland
- William McKinley
- Benjamin Harrison
The Answer:
And, the answer for the the question is :
Explanation:
[STC0016495]. Prior to the year 1900, the United States utilized both gold and silver to determine the value of its currency; but, as the economy became more unstable, this ‘bimetallism’ system came into question. It was a significant factor in the election for president that took place in 1896. Four years later, the victor, President William McKinley, joyfully used a new gold pen to sign the Gold Standard Act, which established gold as the only metal for redeeming paper currency. This act also established gold as the only metal for redeeming gold.