Any historians have comments or info on the "Silver Bill" signed by President Wilson?

Hi all,

I'm reading the "Past Pages" which is a local daily history lesson - and today's news is vague...Well today - a hundred years ago.

According to the story - and this is all of it, there was a "silver bill" signed by Wilson on 4/23/1918

Any thoughts?

<ARTICLE PASTE>
100 Years Ago

As the culmination of the untiring efforts of Governor Boyle and Nevada's two United States senators in a campaign, the conduct of which has brought them the commendation of all mining men in the West and should bring them the thanks of every person in this section. Boyle has witnessed the signing of the silver bill by President Wilson.

 

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Well, let's just trot off to Google. Here's a link that looks promising -- oh. It points to this thread.

 

Oh, that must have been the Pittman Act! Another day that will live in numismatic infamy...

 

That's the one... Thank you. I was drawing a blank!

You would think that the name Pittman would have appeared somewhere in the article back then. sheesh!

 

Yep, it took two utterly stupid and corrupt laws to create the silver dollar gluts - the Bland-Allison Act for the Morgan, and the Pittman Act for the Peace dollars (and the 1921 Morgans). In neither case did the economy need or even want those coins.

Oh, and both were undeniable examples of the "government manipulating the price of silver"... UPWARD!!

 

And because of it, we have two beautiful silver dollars! I know, I know, you don't like them, but many of us do.

As long as politicians have "been", there has been corruption.

 

Don't forget about the Sherman silver purchase act of 1890. It was worse than Bland -Allison. Increased the amount of silver purchased, destroyed the economy, a major recession.

 

Funny how precious metals have a long and rich history of doing EXACTLY that.