The Coinage Act of 1849 was an Act of the

United States Congress The United States Congress is the legislature, legislative branch of the federal government of the United States. It is a Bicameralism, bicameral legislature, including a Lower house, lower body, the United States House of Representatives, ...

passed during the

California Gold Rush The California gold rush (1848–1855) began on January 24, 1848, when gold was found by James W. Marshall at Sutter's Mill in Coloma, California. The news of gold brought approximately 300,000 people to California from the rest of the U ...

authorizing the Mint to produce two new

gold Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal ...

coins in response to the increased gold supply: the small gold dollar and the large double eagle worth twenty dollars. The Act also defined permissible variances in gold coinage.

Legislation

House Bill No. 746 was introduced by James Iver McKay on January 25, 1849. On February 20, 1849, the bill was reported by the United States House Committee on Ways and Means and taken up by the House for debate. The bill passed the House the same day and moved to consideration in the Senate. On March 3, 1849, the bill was reported by the United States Senate Committee on Finance and taken up by the Senate for debate. The bill passed the Senate the same day with amendments and was sent back to the House for consideration. The House agreed to the amendments and the bill was signed into law by President James K. Polk.

Effects

References

External links

Full text of act
An Act to Authorize the Coinage of Gold Dollars and Double Eagles. 30th Congress, 2d Session, Ch. 109. 9 Stat. 397 United States federal currency legislation 1849 in American law 1849 in economic history {{US-fed-statute-stub

Legislation

Effects

See also

References

External links