Grover Cleveland repeals Sherman bill on compulsory silver purchase (57 words)

Historical Context Note

  • Editors

Context

US President Grover Cleveland repeals the Sherman Silver Purchase Act of 1890, which had increased the amount of silver the government was obliged to purchase every year. This had attempted to secure silver as the basis for the American currency, but with Cleveland's repeal of the Act, gold returns to its place as the foundation of consumer confidence.

Citation:
Editors. "Grover Cleveland repeals Sherman bill on compulsory silver purchase". The Literary Encyclopedia. First published 30 December 2011
[http://www.litencyc.com/php/stopics.php?rec=true&UID=19103, accessed 25 March 2017.]

Save this article

If you need to create a new bookshelf to save this article in, please make sure that you are logged in, then go to your 'Account' here.