The early 1890s were not kind to America’s gold reserves. The nation’s supplies of the precious metal swooned under the strain of the recently passed Sherman Silver Act as European investors, fearful that America was chucking gold for silver, increasingly sold their gold supplies overseas.
Coupled with declining revenues triggered by various protective tariffs, the reserves plummeted, taking a severe toll on the economy.
February 9th, 2010
Before You Invest
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