Why did the populists want free coinage of silver?
Bryan wanted the United States to use silver to back the dollar at a value that would inflate the prices farmers received for their crops, easing their debt burden. This position was known as the Free Silver Movement.
What is the best explanation of free silver?
What is the best explanation of “free silver?” The U. S. government would promote prosperity by inflating the money supply, through minting all of the silver offered to it.
What was the free silver crusade?
When Harvey arrived in Chicago in 1893, the nation was in the midst of a serious depression. Harvey and other western business leaders became convinced that prosperity could be restored by returning to the free coinage of silver, which had been stopped in 1873.
What was the free silver movement quizlet?
political agenda adopted by the populist party in 1892 at their Omaha, Nebraska convention. Called for unlimited coinage of silver (bimetallism), government regulation of railroads and industry, graduated income tax, and a number of election reforms.
Why was the silver question so important?
Efforts to induce inflation into the American economy, the panacea of debtors, had been present from earliest times. In 1837, Congress established a relationship between silver and gold at the ratio of 16 to 1 (meaning that 16 ounces of silver were to be equal in value to one ounce of gold). …
Who supported the free coinage of silver?
William Jennings Bryan
Free silver was the central issue for Democrats in the presidential elections of 1896 and 1900, under the leadership of William Jennings Bryan, famed for his Cross of Gold speech in favor of free silver. The Populists also endorsed Bryan and free silver in 1896, which marked the effective end of their independence.
Who did free silver benefit?
Free silver was especially popular among farmers in the Wheat Belt (the western Midwest) and the Cotton Belt (the Deep South), as well as silver miners in the West. It had little support among farmers in the Northeast and the Corn Belt (the eastern Midwest).
Why did the Populist Party want free coinage of silver quizlet?
Populists campaigned for silver-backed money rather than gold-backed, believed to be able to relieve working conditions and exploitation of labor. Democratic candidate for president in 1896 under the banner of “free silver coinage” which won him support of the Populist Party.
Was free silver successful?
Free silver was the central issue for Democrats in the presidential elections of 1896 and 1900, under the leadership of William Jennings Bryan, famed for his Cross of Gold speech in favor of free silver. In major elections, free silver was consistently defeated, and after 1896 the nation moved to the gold standard.
Who does free silver benefit why quizlet?
Who does free silver benefit? Why? Mainly farmers because it would lower the value of money & cause inflation which would cause the price of farm goods they’re selling to increase. Identify the economic & political grievances of late 19th century American farmers.