The Pittman Act of 1918


Congress passed the Pitman Act on 23 April 1918.

This act mandated the melting of 270 million silver dollars.



Three years later the US Mint produced 87 million silver dollars dated 1921,
then 84 million more in 1922, 56 million in 1923, 36 million during 1924-1926,

and 12 million from 1927-1935.



Why would the US Government melt 270 million silver dollars,

only to replace them with 275 million new coins within a few years ?



Somebody in the government knew the enormity of the situation,
and this was their method of “cleansing” the circulating coinage base.