The reason for the statement is that we had been a gold and silver standard, and changed over to only gold in 1871, likely because the bankers had a better ratio of gold than silver to more easily manipulate that market, then the gold was partially confiscated by FDR.
Coincidentally, England had been on a bimetallic standard until 1717. Strange date, and only some 29 years after a Prussian leader deposed the former English leader, who may have been French? This whole situation was a component of the motivation for the American Revolution.
The reason for the statement is that we had been a gold and silver standard, and changed over to only gold in 1871, likely because the bankers had a better ratio of gold than silver to more easily manipulate that market, then the gold was partially confiscated by FDR.
Coincidentally, England had been on a bimetallic standard until 1717. Strange date, and only some 29 years after a Prussian leader deposed the former English leader, who may have been French? This whole situation was a component of the motivation for the American Revolution.