the Sherman Silver Purchase Act of 1890

E48764

United States federal statute monetary policy legislation

The Sherman Silver Purchase Act of 1890 was a U.S. law that greatly increased federal purchases of silver, expanding the money supply and contributing to financial instability in the early 1890s.

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Observed surface forms (3)

Surface form	Occurrences
Sherman Silver Purchase Act of 1890	0
Sherman Silver Purchase Act	3
Treasury Note of 1890	1

Statements (48)

Predicate	Object
instanceOf	United States federal statute ⓘ monetary policy legislation ⓘ
amended	Bland–Allison Act ⓘ
associatedWithEvent	Panic of 1893 ⓘ
consideredCauseOf	Panic of 1893 ⓘ
country	United States of America ⓘ surface form: United States
criticizedBy	gold standard advocates ⓘ
effect	contributed to financial instability in the early 1890s ⓘ expanded United States money supply ⓘ increased demand for silver ⓘ put pressure on U.S. gold reserves ⓘ
enactedBy	51st United States Congress ⓘ
field	economic history ⓘ financial history of the United States ⓘ
followedBy	repeal during Panic of 1893 ⓘ
historicalEra	Gilded Age ⓘ
jurisdiction	United States government ⓘ surface form: United States federal government
legalStatus	repealed ⓘ
monetaryStandardImplication	moved U.S. toward bimetallism ⓘ
namedAfter	John Sherman ⓘ
opposedBy	Eastern financial interests ⓘ
partOf	United States monetary history ⓘ bimetallism debate in the United States ⓘ
paymentInstrument	Treasury notes ⓘ
precededBy	Bland–Allison Act ⓘ
purpose	to appease silver interests in Western states ⓘ to increase government purchases of silver ⓘ
reasonForRepeal	to halt depletion of U.S. gold reserves ⓘ to restore confidence in the gold standard ⓘ
relatedTo	Coinage Act of 1873 ⓘ Free silver movement ⓘ Gold standard in the United States ⓘ
repealDate	1893-11-01 ⓘ
repealedBy	Cleveland administration ⓘ
repealYear	1893 ⓘ
replaced	Bland–Allison Act ⓘ
requiredPurchaseAmount	4.5 million ounces of silver per month ⓘ
requiredPurchaseFrequency	monthly ⓘ
signedBy	Benjamin Harrison ⓘ
signingDate	1890-07-14 ⓘ
subject	bimetallism ⓘ monetary expansion ⓘ silver purchase ⓘ
supportedBy	Western and Southern politicians ⓘ silver mining interests ⓘ
treasuryNotesRedeemableIn	gold ⓘ silver ⓘ
yearEnacted	1890 ⓘ

Referenced by (5)

Full triples — surface form annotated when it differs from this entity's canonical label.

United States Note → distinctFrom → the Sherman Silver Purchase Act of 1890 ⓘ

this entity surface form: Treasury Note of 1890

Panic of 1893 → hasCause → the Sherman Silver Purchase Act of 1890 ⓘ

Bland–Allison Act → relatedTo → the Sherman Silver Purchase Act of 1890 ⓘ

this entity surface form: Sherman Silver Purchase Act

Bland–Allison Act → repealedBy → the Sherman Silver Purchase Act of 1890 ⓘ

this entity surface form: Sherman Silver Purchase Act

Benjamin Harrison → signed → the Sherman Silver Purchase Act of 1890 ⓘ

this entity surface form: Sherman Silver Purchase Act