The Coinage Act of 1873 (The Crime of '73)
Poet involved
What happened
The Coinage Act of 1873, often referred to as 'The Crime of '73,' marked the United States' transition from a silver standard to a strict gold standard. This shift deflated the money supply, adversely affecting western miners and agrarian farmers who felt betrayed by the government's monetary policy. The act sparked significant political and economic debates, contributing to the rise of the Populist movement and discussions about monetary reform.
Literary impact
The Coinage Act of 1873 inspired a wave of populist protest poetry, influencing writers like Joaquin Miller and the agrarian literary movement. The anger and disillusionment surrounding this legislation found expression in ballads that critiqued economic injustice and championed the rural experience.
Source: Wikipedia
