Silver Purchase Act

Silver Purchase Act:

see Sherman Silver Purchase ActSherman Silver Purchase Act,
1890, passed by the U.S. Congress to supplant the Bland-Allison Act of 1878. It not only required the U.S. government to purchase nearly twice as much silver as before, but also added substantially to the amount of money already in circulation.
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References in periodicals archive ?
The Bland-Allison Silver Purchase Act was implemented in February 1878 over President Rutherford B.
The outcome of this new political pressure was the Sherman Silver Purchase Act of 1890, which was designed to supplant the Bland-Allison Act.
9) Cleveland successfully marshaled public opinion against the Sherman Silver Purchase Act, which he blamed for the crisis, and he appealed to a joint session of Congress on August 6, 1893, for its repeal.
Cleveland's response to the Panic of 1893 was to repeal the Sherman Silver Purchase Act of 1890, which he saw as undermining confidence and ultimately to blame for the crisis.
Ultimately, the silver issue was secondary to the 1893 crisis, so although the Cleveland administration's response, repealing the Sherman Silver Purchase Act, resolved concerns over the stability of the gold standard, it did not immediately bring recovery.
Going Public" in the Nineteenth Century: Grover Cleveland's Repeal of the Sherman Silver Purchase Act.
Senate gave final congressional approval to repealing the Sherman Silver Purchase Act of 1890.
For example, silver miners got a multibillion-dollar subsidy with the Silver Purchase Act, when Roosevelt says, we will buy silver at 64.
The Silver Purchase Act of June 1934 furthered the huge addition to the silver stock.