Bland - Bland-Allison Act Bland-Allison Act 1878 passed by...

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Bland-Allison Act Bland-Allison Act, 1878, passed by the U.S. Congress to provide for freer coinage of silver. The original bill offered by Representative Richard P. Bland incorporated the demands of the Western radicals for free and unlimited coinage of silver. This was passed by the House but was unacceptable to the conservative Senate. Senator William B. Allison then offered an amended version. The act as adopted required the U.S. Treasury to purchase between $2 million and $4 million worth of silver bullion each month at market prices; this was to be coined into silver dollars, which were made legal tender for all debts. Attempts of the free-silver forces to replace the act with provision for unlimited coinage were defeated, as were attempts of the gold-standard forces to repeal it altogether. President Hayes and his successors weakened the act's effect by purchasing only the minimum amount of bullion. It remained law until replaced by the Sherman Silver Purchase Act of 1890. Conkling, Roscoe
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This note was uploaded on 01/04/2012 for the course AMH AMH2010 taught by Professor Pietrzak during the Fall '10 term at Broward College.

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