The Coinage Act or the Mint Act, passed by the United States Congress on April 2, 1792, created the United States dollar as the country's standard unit of money, established the United States Mint, and regulated the coinage of the United States. The long title of the legislation is "An act establishing a mint, and regulating the Coins of the United States". This act established the silver dollar as the unit of money in the United States, declared it to be lawful tender, and created a decimal system for U.S. currency.