V. The Modern Period, 1789–1914 > H. North America, 1789–1914 > 2. The United States, 1878–1914 > b. New Political, Social, and Diplomatic Issues
  The Encyclopedia of World History.  2001.
b. New Political, Social, and Diplomatic Issues
1878, Feb
The Bland-Allison Act. In 1873 Congress had omitted the standard silver dollar from the list of authorized domestic coins to be minted in the future, commonly referred to as the Crime of 1873. The silver producers were supported by the farmers, who believed the free coinage of silver would bring an upturn in the price of farm products. In 1877, the Bland-Allison Act was passed over the veto of Hayes and authorized the secretary of the treasury to purchase from 2 million to 4 million dollars' worth of silver bullion monthly for coinage.  1
The U.S. Geological Survey was founded, consolidating under one office the several surveys that had been gathering valuable information on western North America for over a decade. Under the directorship of John W. Powell (1834–1902) after 1881, the survey grew into a powerful agency for the progress of science in the United States.  2
Frank W. Woolworth established his five-and-ten-cent store at Lancaster, Pa. By 1900, the company's volume of business reached over $5 million and continued to rise, reaching $15 million in 1910.  3
Jan. 1
Resumption of specie payment. The success of the policy was greatly aided by the unusual demand abroad for American agricultural products, which brought gold into the country in large quantity.  4
The Encyclopedia of World History, Sixth edition. Peter N. Stearns, general editor. Copyright © 2001 by Houghton Mifflin Company. Maps by Mary Reilly, copyright 2001 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved.