Grover Cleveland repeals Sherman bill on compulsory silver purchase

Historical Context Note

Litencyc Editors (Independent Scholar - Europe)
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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.

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Citation: Editors, Litencyc. "Grover Cleveland repeals Sherman bill on compulsory silver purchase". The Literary Encyclopedia. First published 30 December 2011 [https://www.litencyc.com/php/stopics.php?rec=true&UID=19103, accessed 28 March 2024.]

19103 Grover Cleveland repeals Sherman bill on compulsory silver purchase 2 Historical context notes are intended to give basic and preliminary information on a topic. In some cases they will be expanded into longer entries as the Literary Encyclopedia evolves.

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