The Sherman Silver Purchase Act was a U.S. law enacted in 1890 that aimed to increase the amount of silver purchased by the federal government. It required the government to buy 4.5 million ounces of silver each month, which was intended to boost the economy and support silver miners. This act was a response to the growing demand for silver currency and the economic challenges of the time. The act was named after Senator James Sherman, who played a key role in its passage. However, it faced criticism and was eventually repealed in 1893 due to the financial strain it placed on the U.S. Treasury and the declining value of silver.