If Congress had not demonetized silver in 1873, the metal’s decreasing value would have curbed the deflation of the time. I believe that this was one of the US

If Congress had not demonetized silver in 1873, the metal’s decreasing value would have curbed the deflation of the time. I believe that this was one of the US Government’s greatest mistakes ever, because the reaction to the economic crisis in the 1870’s had a profound effect on the failure of Reconstruction. Friedman wrote a paper on this, called “The Crime of 1873.”