The Sherman Silver Purchase Act (policy) (jul 14, 1890 – jul 14, 1893)
Description:
Event: "It increased the amount of silver the government was required to purchase on a recurrent monthly basis to 4.5 million ounces,(Socolofsky)" expanding the money supply.Impact: By inflating the currency, the price of crops increased and make their debt payments cheaper as well.
Added to timeline:
Date:
jul 14, 1890
jul 14, 1893
~ 3 years