MARCH 14, 1900 – US GOLD STANDARD ACT APPROVED

1900 – US GOLD STANDARD ACT APPROVED
It established gold as the only metal standard for redeeming paper money. Populists had campaigned for several years before, culminating in the 1896 Presidential election, to include silver as a standard for redeeming paper money. Banks controlled most of the gold and thus the basis for issuing paper money. Populists wanted to expand the money supply to meet the needs of an expanding economy and country. Banks wanted to maintain control of the money supply. President William McKinley (from Canton, Ohio), strongly backed by the nation’s major corporations, signed the Act. Whether gold and/or silver, banking money with metal moved the nation further away from the Greenbacks, the debt- and interest-free currency issued as credit, of the Lincoln administration.

MARCH 14, 1782 - BIRTH OF THOMAS BENTON, US SENATOR, MISSOURI

1782 - BIRTH OF THOMAS BENTON, US SENATOR, MISSOURI
“I object to the renewal of the charter of the Bank of the United States because I look upon the bank as an institution too great and powerful to be tolerated in a government of free and equal laws.  Its power is that of the purse, a power more potent than that of the sword,  and this power it possesses to a degree and extent that will enable this bank to draw to itself too much of the political power of this Union, and too much of the individual property of the citizens of these States.  The money power of the bank is both direct and indirect." http://yamaguchy.com/library/benton/benton_187.html

March 14, 1782 - BIRTH OF THOMAS BENTON

March 14, 1782 - BIRTH OF THOMAS BENTON, US SENATOR, MISSOURI

“I object to the renewal of the charter of the Bank of the United States because I look upon the bank as an institution too great and powerful to be tolerated in a government of free and equal laws.  Its power is that of the purse, a power more potent than that of the sword,  and this power it possesses to a degree and extent that will enable this bank to draw to itself too much of the political power of this Union, and too much of the individual property of the citizens of these States.  The money power of the bank is both direct and indirect."

http://yamaguchy.com/library/benton/benton_187.html