As a result, the Hayes administration purchased the limited amount of silver each month. Hayes, who held interests in industrials and banking, vetoed the measure, which was overturned by Congress. Allison of Iowa, they agreed to a proposal that allowed silver to be purchased at market rates, metals to be minted into silver dollars, and required the US Treasury to purchase between $2 million to $4 million silver each month from western mines. Bland, a Democrat of Missouri), to join with silver-producing interests in urging a return to bimetallism, the use of both silver and gold as a standard. The five-year depression following the Panic of 1873 caused cheap-money advocates (led by Representative Richard P. The text of the act can be found in the Congressional Record under the further reading section of this article. ![]() Hayes, the Congress overrode Hayes's veto on February 28, 1878, to enact the law. Though the bill was vetoed by President Rutherford B. Treasury to buy a certain amount of silver and put it into circulation as silver dollars. The Bland–Allison Act, also referred to as the Grand Bland Plan of 1878, was an act of the United States Congress requiring the U.S.
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