The 1879 Gold Resumption That Defeated Inflation

In 1879, the U.S. government redeemed greenback dollars for gold at par for the first time since the Civil War — a bet that ended years of deflationary chaos and restored global trust in American currency. Lucas and Luna trace how Treasury Secretary John Sherman orchestrated a four-year buildup of gold reserves, why the timing mattered for railroads and farmers, and what the episode reveals about the political difficulty of sound money. They also unpack the parallel with modern post-pandemic inflation-fighting: both eras required sustained credibility through concrete action, not just promises. Specific numbers include the $346 million gold reserve target and the $95 million greenback contraction that preceded resumption. #GoldResumption #JohnSherman #Greenbacks #Deflation #SoundMoney #CivilWarFinance #SpecieResumption #NationalBankingEra #TreasuryDepartment #MonetaryPolicy #USHistory #Economics #FexingoBusiness #BusinessPodcast #EconomicHistory #Inflation #GoldStandard #1879 Keep every episode free: buymeacoffee.com/fexingo