What was the effect of the gold standard act of 1900?

The Gold Standard Act of the United States was passed in 1900 (approved on March 14) and established gold as the only standard for redeeming paper money, stopping bimetallism (which had allowed silver in exchange for gold). It was signed by President William McKinley.

 Approved on March 14 and established gold as the only standard for redeeming paper money, stopping bimetallism which had allowed silver in exchange for gold.