Why was the Sherman Silver Purchase Act passed? Select the two correct answers.

Question

(1 point)
to shrink the money supply
to help farmers repay debis
to increase the money supply
to replace the gold standard with silver
to eliminate silver from the money supply

Answer 1

The two correct answers for why the Sherman Silver Purchase Act was passed are:

• to help farmers repay debts
• to increase the money supply

The Sherman Silver Purchase Act of 1890 was intended to support farmers and the economy by increasing the amount of silver that was purchased by the government, thereby increasing the money supply and aiding in debt repayment for agricultural products.