The Sherman Silver Purchase Act was a law passed in 1890 requiring the U.S. government to buy a certain amount of silver every month. It aimed to increase the amount of money based on silver in circulation, but it led to inflation and was later repealed.
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Bimetallism : A monetary standard where the value of the monetary unit is defined as equivalent both to a certain quantity of gold and to a certain quantity of silver; such a system establishes a fixed rate of exchange between the two metals.
Inflation : The rate at which general level of prices for goods and services is rising, eroding purchasing power.
Gold Standard : A monetary system where a country's currency or paper money has a value directly linked to gold.