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Since the 16th century Catholic piety has assigned entire months to special devotions. Like the Sacred Wounds of Jesus, His Precious Blood deserves special honor because of its close relation to the Sacred Passion. That honor was given to it from the beginning by the Apostles who praised its redeeming power. (Rom. 5:9 "we are justified by His blood"; Heb. 13:12 "and so Jesus also, that He might sanctify the people by His blood, suffered outside the gate"; 1 John 1:7 "and the blood of Jesus Christ, His Son, cleanses us from all sin.")
In recent times the devotion has been encouraged by Blessed Gaspar Buffalo, founder of the Congregation of the Precious Blood of Jesus Christ. When Pope Pius IX was in exile from Rome in 1849, he had as his companion Don Giovanni Merlini, the third general of that Congregation. This saintly priest suggested to the pope that he make a vow to give the feast of the Precious Blood to the entire church, if he should regain the papal territory. Without binding himself by the vow, the pope immediately extended the feast to the whole Church. On the old calendar it was celebrated on July 1, but Catholics may still continue this tradition by increasing their devotion to the most precious Blood throughout the entire month of July.
See this article from the Catholic Culture library, Apostle of Devotion to His Most Precious Blood: St. Gaspar del Bufalo.
Prayer Source: Prayer Book, The by Reverend John P. O'Connell, M.A., S.T.D. and Jex Martin, M.A., The Catholic Press, Inc., Chicago, Illinois, 1954
Devotion to the Precious Blood
DOCTRINE OF THE BLOOD OF CHRIST
,,,,,,,,,,,,,,,,,,,,And More on the Precious Blood
Litany of the Most Precious Blood of Our Lord Jesus Christ
NOTHING IS MORE POTENT AGAINST EVIL THAN PLEADING THE PRECIOUS BLOOD OF CHRIST
FORMER PENTECOSTAL RELATES MIRACLE THAT OCCURRED WITH THE PRECIOUS BLOOD
Litany of the Most Precious Blood of Jesus
St.Gaspar:Founder of the Society of the Precious Blood[AKA The Hammer of Freemasons]