The Populist Party wanted free coinage of silver
to expand the money supply and encourage investment
.
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
.
Why did the Populist Party want unlimited 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 did the Populist Party want unlimited coinage of?
Farmer’s Alliance
Soon the members of the alliance decided that a new political party was needed, and the Populist Party was born. One of its key demands was the unlimited coinage of silver at a ratio of 16 to 1 (that is to say, 16 ounces of silver would have the same value as 1 ounce of gold).
What political party favored free and unlimited use of silver?
This had been an important objective of the Populist Party in the election of 1892, and in 1896
the Democrats
, despite strong opposition from President Grover Cleveland, made unlimited coinage of silver the principal plank in their platform.
Did Democrats support the Free Silver movement?
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.
What were the goals of the Free Silver movement?
The Free Silver Movement was a political movement that proposed returning to “bimetallism”: Those in the movement
wanted money backed by silver to be added to the money supply
, which was backed by gold. Adding to the money supply would have ended the deflation and created the possibility of inflation.
Why did farmers support backing money with silver quizlet?
Farmers
wanted to expand the currency supply by coining an unlimited amount of silver
. They believed that if more money was in circulation, prices would go up for all goods, including farm products. If profits increased on their crops, farmers could pay their debts.
Why did free silver become the key issue of the farmers revolt what other issues were important to them quizlet?
A major policy issue in the late 19th century, advoicates for free silver
wanted an inflation in monetary policy using the free coinage of silver
. … Farmers would benefit from higher prices for crops, and wanted silver. The silver Vs. gold issue was a central point in the elections of 1896 and 1900.
Which group supported the government control of railroads and the coinage of silver?
The Populists
focused on railroads, silver coinage, crop prices, and inflation. The Populist Party supported Democrat William Jennings Bryan in the 1896 election. Frances Willard chaired the first convention of the Populist Party, also called the “People’s Party,” in 1892 in Omaha, Nebraska.
What are the four major issues the Populist Party are concerned about?
They demanded an increase in the circulating currency (to be achieved by the unlimited coinage of silver),
a graduated income tax, government ownership of the railroads, a tariff for revenue only, the direct election of U.S. senators
, and other measures designed to strengthen political democracy and give farmers …
What caused the demise of the Populist Party?
The Populist Party emerged in the early 1890s as an important force in the Southern and Western United States, but collapsed after it nominated Democrat William Jennings Bryan in the 1896 United States presidential election.
Did the populists support the gold standard?
The Populist Party did not achieve all of their goals,
the nation remained on the gold standard until 1933
, but they did get considerable recognition as a viable political force. By 1911 the the new Federal Reserve System took over the printing of money. An income tax was indeed passed.
Why did big business and others not want an increased coinage of silver?
Free Silver supporters were opposed by supporters of the Gold Standard (silverites), which was less inflationary. Silverites wanted
bimetallism
, which would see gold and solver used as currency. As silver was cheaper, economists warned more people would mint it, and thus cause inflation.
What did the Silverites want?
The Silverites advocated
free coinage of silver
. They wanted to lower the gold standard of the United States to silver therefore allowing inflation of the money supply. Many Silverites were in the West, where silver was mined.
Why did farmers not like the gold standard?
Gold Standard- Money in circulation is backed by gold. Amount of money in circulation is restricted by amount of gold to back it. Farmers were opposed to the gold standard
because it restricted the amount of money in circulation
.
