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Congress passed the Specie Resumption Act in 1875 in response to the Panic of 1873. This act: a. provided for the redemption of federal war
Congress passed the Specie Resumption Act in 1875 in response to the Panic of 1873. This act: a. provided for the redemption of federal war bonds with paper currency not tied to gold reserves. b. required the Department of Interior to develop a list of endangered species so that they could be protected. c. required the treasury department to redeem greenback dollars and replace them with treasury notes backed by gold. d. issued paper currency not backed by gold or silver. e. allowed the Greenbackers to form their own political party
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