Ask Question
22 November, 08:36

What law allowed the use of silver as part of the national monetary policy? a. Bland-Allison Act c. Bland Silver Purchase Act b. Sherman Silver Purchase Act d. Sherman-Allison Act

+2
Answers (1)
  1. 22 November, 08:46
    0
    The correct answer is A.

    The Bland-Allison Act was approved by the US Congress in 1878, after overriding the veto imposed by President Rutherford B Hayes. This bill stated that the US Treasury should buy a certain quantity of silver that should be put in circulation in the form of "silver dollars". Ater the Panic of 1873, and the subsequent five-year recession, the decision of using both gold and silver as standard was taken in order to control the exchange rates of the dollar.

    Options B and C refer to punctual silver purchases that were accomplished after the enactment of the abovementioned act. Option D refers to a posterior act that actually was enacted to amend the Bland-Allison former one.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What law allowed the use of silver as part of the national monetary policy? a. Bland-Allison Act c. Bland Silver Purchase Act b. Sherman ...” in 📗 History if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers