In 1872, Richard Bland was elected to the U.S. Congress. He was elected a total of 11 times and was a major force for the silver mining industry. In 1873, the Fourth Coinage Act was passed. This made gold the only metal that backed the currency of the United States. This devastated the miners in the silver industry and the country sank into a depression. Bland fought vigorously for the silver industry. In 1878, he sponsored the Bland-Allison Act. This law required the U.S. Government to purchase silver for coinage and this greatly helped the mining industry. He was given the nickname “Silver Dick” for this achievement. He continued throughout his Missouri political career to fight for the success of the silver industry and the rights of the common man. Anyone who loves to collect Morgan Dollars owes this man a thanks since he is one of the men who contributed in allowing us to have all those abundant beatiful mint state Morgans to collect. Altough they were unwanted in there time they are one of the most recognized and collected american coins in todays market.
Yes. I hate to say it, but probably most forum member's could not tell you what the Bland -Allison Act was, nonetheless who Bland was. Good write up .
Now you need to indroduce them to Senator John Sherman whose silver purchase act replaced the Bland Allison act, increased the amount of silver purchased for the silver dollars and which resulted in the near destruction of the US economy, caused the US to come to the brink of declaring default on its obligations. It cause the Panice of 1893 and lad to the gold an silver debates, in the elections of 1896, 1900, and 1904. William Jennings Bryan, The Cross of Gold Speech, and the eventual adoption officially of the gold standard.
