1878

Bland–Allison

The Treasury must make limited silver purchases and coin them. This is not free coinage at 16 to 1.

Morgan silver dollar of 1878, Carson City.
Morgan dollar, 1878. A silver dollar of the Bland–Allison year.Public domain.

The Bland–Allison Act of 1878 required the Treasury to purchase a fixed, limited amount of silver each month and to coin it into dollars. The standard silver dollar, dropped in 1873, was struck again under that duty.

Limited purchases are not free coinage at 16 to 1. Specie payments on greenbacks resume the next year, on 1 January 1879. The dollar is not yet defined as a gold unit in the 1900 statute.

The Crime of 1873