why was the sherman silver purchase act passed? select the two correct answers. (1 point) to shrink the…
why was the sherman silver purchase act passed? select the two correct answers. (1 point) to shrink the money supply to help farmers repay debts to increase the money supply to replace the gold standard with silver to eliminate silver from the money supply
Answer
Brief Explanations:
The Sherman Silver Purchase Act was passed in 1890 to increase the money - supply by having the government buy large amounts of silver. This was also aimed at helping farmers who were in debt as an increased money - supply could lead to inflation, making it easier for them to pay off debts. It did not aim to shrink the money - supply, replace the gold standard with silver, or eliminate silver from the money - supply.
Answer:
to help farmers repay debts to increase the money supply