The government built up its gold reserves to prepare for massive redemption on January 1, 1879, but by then the public had full confidence in the currency and there was no run on gold. The greenback controversy was over, and had been replaced by a movement for free and unlimited coinage of silver. | The government built up its gold reserves to prepare for massive redemption on January 1, 1879, but by then the public had full confidence in the currency and there was no run on gold. The greenback controversy was over, and had been replaced by a movement for free and unlimited coinage of silver. |