Congress passed the Coinage Act of 1792

On April 2, 1792, the US Congress passed the Coinage Act of 1792. Section 1 of the act called for the construction of a national mint near the federal capital, which resulted in the creation of the Philadelphia Mint. Section 9 established gold, silver and copper coinage to serve as the national currency. Congress passed the act in accordance with its legislative power under the US Constitution and in accordance with requests from federal officials. In 1790, US President George Washington had called for Congress to establish a national currency, and in 1791, US Secretary of the Treasury Alexander Hamilton had submitted to Congress plans to establish a national mint.

Learn more about Congress and currency from the JURIST news archive.

 

About This Day at Law

This Day at Law is JURIST's platform for legal history, highlighting interseting and important developments that shaped the law and the world.

© Copyright JURIST Legal News and Research Services, Inc., 2013.