Complex sentence: Under the Act, the federal government purchased millions of ounces of silver (it became the second-largest buyer in the world, after the government of India); this eventually led to inflation and contributed to the Panic of 1893.
Split into simpler sentences: Under the Act, the federal government purchased millions of ounces of silver; it became the second-largest buyer in the world, after the government of India. This eventually led to inflation and contributed to the Panic of 1893.