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EncyclopediaSherman 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. The Sherman Silver Purchase Act (supported by John Sherman only as a compromise with the advocates of free silver) threatened, when put into operation, to undermine the U.S. Treasury's gold reserves. After the panic of 1893 broke, President Cleveland called a special session of Congress and secured (1893) the repeal of the act. The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2007, Columbia University Press. All rights reserved. More on Sherman Silver Purchase Act from Infoplease:
- Silver Purchase Act - Silver Purchase Act: Silver Purchase Act: see Sherman Silver Purchase Act.
- Bland-Allison Act - Bland-Allison Act Bland-Allison Act, 1878, passed by the U.S. Congress to provide for freer coinage ...
- free silver: Political Ferment and Legislative Compromise - Political Ferment and Legislative Compromise The demands for unlimited silver coinage led to the ...
- Richard Parks Bland - Bland, Richard Parks Bland, Richard Parks, 1835–99, American statesman, b. near Hartford, Ky. ...
- John Sherman - Sherman, John Sherman, John, 1823–1900, American statesman, b. Lancaster, Ohio; brother of ...
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