is the Act which has been called the "crime of 1873," on which tomes of
controversy have been called forth. It is discussed at some length in
the speech of Mr. Morrill, found in our text.

On February 28, 1878, the Bland-Allison Act was passed over the veto of
President Hayes. A bill providing for the free and unlimited coinage
of silver, of 412 and 1/2 grains to the dollar, had passed the House
in November, 1877, under a suspension of the rules. At this time the
bullion in the silver dollar was worth about 92 cents. When the Bland
free-coinage Act came to the Senate, it was amended there on report
of Senator Allison, of Iowa, Chairman of the Finance Committee of
the Senate, by a provision that the Government should purchase from
$2,000,000 to $4,000,000 worth of silver bullion for coinage into
dollars. Holders of the coin were authorized to deposit the same with
the United States Treasurer and to receive therefor certificates of
deposit, known as silver certificates. These certificates are not legal
tender, although receivable for customs, taxes, and all public dues, and
are redeemable only in silver. This Act called forth an exhaustive
and able debate. Senator Morrill, of Vermont, opened the debate in
opposition to silver coinage. Senator Beck, of Kentucky, was one of
the ablest advocates of silver coinage, while Mr. Blaine made a notable
contribution to the debate, in which he favored the unlimited coinage of
a silver dollar of 425 grains. Preceding the Congressional action there
had been much public discussion on the subject throughout the country.
A Monetary Commission had been organized, by joint resolution of August
15, 1875, for the purpose of making an examination into the silver
question. This Commission made an exhaustive report to Congress on March
2, 1877, the majority of the Commission recommending the resumption of
silver coinage. Also, previous to the discussion of the Bland-Allison
Act in the Senate, the celebrated Matthews Resolution was passed by that