Question

Which of the following occurred in early 1895, when the Treasury's gold reserves reached a desperately low point?
A) President Cleveland devalued the dollar.
B) President Cleveland ordered twenty million dollars worth of silver dollars coined even though this caused significant inflation.
C) President Cleveland took the country off the gold standard.
D) A banking syndicate headed by J. P. Morgan underwrote a new bond issue and saved the government from bankruptcy.

Answer

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