Bland-Allison Act Law and Legal Definition

The Bland-Allison Act of 1878 is a U.S federal statute. The Act empowers the Treasury to buy silver and put it into circulation as silver dollars. This Act aims to promote use of bimetals in U.S.

For accomplishing the object, the Act requires the Treasury to buy between $2 million and $4 million worth of silver each month from the western mines. The purchase of silver is at market rates and not at a predetermined value. An amendment to the Act was made by the Sherman Silver Purchase Act of 1890.