List 2 reasons why the U. S. Gold Reserve had fallen below $100 million during Grover Cleveland's Presidency.

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Jagger Blackburn

24 February, 04:50

List 2 reasons why the U. S. Gold Reserve had fallen below $100 million during Grover Cleveland's Presidency.

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Carla Bonilla · Answer 1

The two reasons are:

1. Sherman Silver Purchase Act of 1890

Sherman Silver Purchase Act of 1890 intiated the purchase of 4.5 million of silvers to be transformed into dollar currency, which reduce the valuation of Gold that previous regarded as an acceptable subtitue for paper dollar.

2. The government use their Gold reserves in order to buy various form of bonds in order to control money circulation in the market.