Table of Contents
Why did the Populists support free 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.
For what reason did populists and their presidential candidate William Jennings Bryan support free silver quizlet?
Bryan supported bimetallism, or free silver, which he believed would bring the naiton prosperity.
Who supported free silver?
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.
Did Hayes veto the Bland Allison Act?
President Rutherford B. Hayes, who held interests in industrials and banking, vetoed the measure, which was overturned by Congress.
Why did the Populist Party want free coinage of silver?
Free coinage of silver was another rallying cry of the populist party. The point of this policy was to give people a more accessible and stable currency. As it stood, gold was rare and expensive, making the debts of people like farmers (the main base of the populist party) hard to pay back.
Why was gold important to the Populist Party?
As it stood, gold was rare and expensive, making the debts of people like farmers (the main base of the populist party) hard to pay back. People wanted a currency that was easy to get their hands on, like greenbacks or silver.
Who was the best supporter of free silver?
The most vocal and best-organized supporters were the silver mine owners (such as William Randolph Hearst) and workers, and the western states and territories generally, as most U.S. silver production was based there and the region had a great number of highly indebted farmers and ranchers.
Why was there a debate about free silver?
The “free silver” debate pitted the pro-gold financial establishment of the Northeast, along with railroads, factories, and businessmen, who were creditors deriving benefit from deflation and repayment of loans with valuable gold dollars, against farmers who would benefit from higher prices for their crops and an easing of credit burdens.