What did the coinage act of 1873 accomplish?

A) It introduced silver as the basis for the national currency.
B) It made gold the nation's monetary standard.
C) It prohibited the use of greenbacks.
D) It established the Federal Reserve system.

Coinage Act

A law governing the creation and regulation of coins as legal tender, specifying their composition, weight, and value.

National Currency

National currency refers to the official money issued by a country's government or central bank, used as the medium of financial transaction within its borders.

Federal Reserve System

The central banking system of the United States, established in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.