Ask Question
24 November, 06:38

The downfall of the Sherman Silver Purchase Act.

+3
Answers (1)
  1. 24 November, 07:29
    0
    The Sherman Silver Purchase Act of 1890, perhaps along with protectionist McKinley Tariff that year, was blamed for panic. Set in response to a large overproduction of silver by western mines, or the Sherman Act requiring the US Treasury to understand silver using notes respected by silver or gold.

    President Grover Cleveland, a Democrat, was blamed for the depression. He, in turn, blamed the Sherman Silver Purchase Act. Gold reserves stored in the Treasury have fallen dangerously low. This led President Cleveland to lend $ 65 million in gold from banker JP Morgan and the Rothschild family of banks in England.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “The downfall of the Sherman Silver Purchase Act. ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers