Word: silver
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Dates: during 1890-1899
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Question: Resolved, That the Silver Act of 1890 was an unwise measure...
Best general references: F. W. Taussig. Silver Situation in the U. S.; J. L. Laughlin, Bimetallism Chs. XIII, XIV; Nineteenth Century, XXVIII. 309-324. (Aug. 1890); Nation LII. 24 (Jan. 8, 1891). LIII. (Jul. 23, 1891); Jevons, Investigation in Currency and Finance...
...bill when passed was unsatisfactory. - (a) No improvement on the Brand Act. - (b) Measure was simply a compromise and satisfied nobody. - (c) Currency should not be changed so often. - (d) Arguments for the bill unsound. - (1) To raise the price of silver. - (2) To inflate the currency. - (e) Unnecessary locking up of bullion: Nineteenth Cent...
...fulfilled it object. - (a) Silver did not rise permanently: Silver Situation, 52 - (b) Prices have not risen - (c) Has not caused a revival of general activity. - (d) Silver Agitation was not stopped: Nation LII, (Jan. 8, '91.) - (e) Gen. Sherman grants that the bill was a failure: Ibid...
...most dangerous measure. - (a) It tends to drive us toward a silver standard. - (b) We cannot absorb the new silver. - (c) Our gold reserve has been weakened: Nation LII, (July 23, 1891. - (d) Banks are compelled to help the Treasury - (e) It diminishes the surplus and weakens the Treasury. - (f) In 1891 we barely escaped financial trouble. - (g) A panic may come at any time...