If westerners voted for the tariff measure, then eastern lawmakers would support a silver purchase bill that the westerners wanted.
The bill, known as the Sherman Silver Purchase Act, would have the government buy four-and-one-half-million ounces of silver each month. The government would pay for the silver with paper money -- treasury notes -- which could be exchanged for gold or silver money.
LEO SCULLY: Western mines were producing huge amounts of silver. By selling it to the government, the mining interests hoped to keep the price of silver from falling. Western interests spoke in Congress now with a much stronger voice. In eighteen eighty-nine and eighteen ninety, six western territories became states. This added twelve more western representatives in the Senate and others in the House.
The deal was agreed to. Both the McKinley Tariff Bill and the Sherman Silver Purchase Bill were approved by Congress and signed by President Harrison. As expected, the price of imported goods rose. And the people blamed the Republicans.
JACK WEITZEL: In the congressional elections of eighteen ninety, the Republican Party suffered heavy losses.
The Republican majority in the Senate was cut to eight. And not all the Republican senators would support the party on every issue. The Republicans lost control in the House of Representatives. Only eighty-eight were elected to House seats. Democrats elected two hundred thirty-five Representatives.
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2013-11-25
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2013-11-25