During the 1890s, there was a time of economic depression in the year 1893. This was caused by the 1890 Sherman Silver Purchase Act which required the United States government to purchase 4.5 million onces of silver every month at market price, purchased with a new issue of treasury notes and minted into dollar coins, both of which could be redeemed for gold from the U.S. Treasury. The Act also required the Treasury to value gold at sixteen times that of silver by law. By doing this, America was seen as dependent and the country's financial integretity was questioned because it needed large amounts of gold to meet any of its needed obligations. The price of silver also continued to decline which caused mines to close, forcing some men out of work while those who stayed recieved crucial pay cuts. The Panic of 1893 caused many American people to lose their howmes and savings forcing them to move out of the States.
Americans. They're everywhere. They keep coming to England...
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