The Sherman Silver Purchase Act provided for the following: The Treasury would purchase 4.5 million ounces (or 281,250 pounds) of silver each month at market rates The Treasury would issue notes redeemable in either gold or silver. The planned government purchases amounted to almost the total monthly output from the mines. However, the increased supply of silver drove down the price. Many mine operators in the West tried to reduce expenses by cutting the miners' wages. Labor unrest and sporadic violence followed.