The Sherman Silver Purchase Act

Question

The Sherman Silver Purchase Act​

Quizplus · Accepted Answer

The Sherman Silver Purchase Act required the federal government to purchase silver from western mines, issue bonds payable in gold or silver coin, and was a strategy by Republicans to gain support from western silver producers. However, it did not take the U.S. currency off the gold standard; that's a misconception. The act was part of broader economic policies involving silver and gold but maintained the gold standard until later developments.

The Sherman Silver Purchase Act​

The Sherman Silver Purchase Act