Treasury Secretary George Boutwell had Deputy Comptroller of the Currency John Jay Knox draft a revised law, introduced into Congress by Ohio Senator John Sherman. Silver's market price then exceeded the value at which the Mint would purchase the metal, suppressing the demand for bullion to be struck into silver dollars. However, Knox and others correctly forecast that development of the Comstock Lode and other rich silver mines would lower silver's market price, making the option of having bullion struck into legal-tender coins attractive.