The silver dollar is deemed US legal tender Amid roiling economic controversy and a financial panic, the United States Congress passes the Bland-Allison Act, requiring the minting of silver coins to be put into circulation as dollar coins. Gold coins will be preferred among Americans, however, giving rise to the gold standard economy.On this day — February 16 1878

The silver dollar is deemed US legal tender Amid roiling economic controversy and a financial panic, the United States Congress passes the Bland-Allison Act, requiring the minting of silver coins to be put into circulation as dollar coins. Gold coins will be preferred among Americans, however, giving rise to the gold standard economy.On this day — February 16 1878

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