Congress considered

Congress considered raising the five-dollar legal tender limit on trade dollars,[30] but instead passed a bill that officially demonetized the trade dollar on July 22, 1876;[22] the Secretary of the Treasury was directed by the act to strike no more of the coins than necessary for use in trade.[31] Despite the demonetization of the trade dollar, bullion producers continued to place the coins into the American market, resulting in an estimated seven million coins circulating within the United States,[22] of which more than four million were placed in circulation in 1877.[31] Despite the 1876 act, it was not until October 15, 1877 that Sherman (now Secretary of the Treasury) finally ordered that the mints not accept orders for trade dollars. On November 5, apparently believing a false report that additional supplies were needed for the Chinese New Year, he rescinded his order, finally ending orders for trade dollars on February 22, 1878.[32]
sell my phone
Invisible Fence support