Table of Contents
Which political party was in favor of bimetallism?
| Silver Republican Party | |
|---|---|
| Merged into | Republican Party Democratic Party (minority) |
| Ideology | Agrarianism Bimetallism |
| Political position | Center-left |
| International affiliation | None |
Who did the Republicans support in the election of 1896?
The 1896 United States presidential election was the 28th quadrennial presidential election, held on Tuesday, November 3, 1896. Former Governor William McKinley, the Republican candidate, defeated former Representative William Jennings Bryan, the Democratic candidate.
Who was the Democrat in 1896?
Presidential Election of 1896: A Resource Guide
| Political Party | Presidential Nominee | Popular Vote |
|---|---|---|
| Republican | William McKinley | 7,105,144 |
| Democratic/ Populist | William Jennings Bryan | 6,370,897 |
Who supported McKinley in 1896?
McKinley was supported by middle-class and wealthy voters, urban laborers, and prosperous farmers; this coalition would keep the Republicans mostly in power until the 1930s.
What was wrong with bimetallism?
A major problem in the international use of bimetallism was that, with each nation independently setting its own rate of exchange between the two metals, the resulting rates often differed widely from country to country.
What made the election of 1896 unique in American history quizlet?
The presidential election of 1896 demonstrated a sharp division in society between urban and rural interests. This election ranks higher than other disputed elections because it is set against the backdrop of Reconstruction. Samuel Tilden led in popular and electoral votes but was one shy of the necessary votes to win.
When did bimetallism become a center of political conflict?
In the United States, bimetallism became a center of political conflict toward the end of the 19th century. During the Civil War, to finance the war the U.S. switched from bimetallism to a fiat money currency.
Why did William Huskisson start the bimetallist movement?
After the crash of 1825, William Huskisson argued strongly within the Government for bimetallism, as a way to increase credit (as well as to ease trade with South America). Similarly, after the banking crisis of 1847, Alexander Baring headed an external bimetallist movement hoping to prevent the undue restriction of the currency.
When did bimetallism become illegal in the US?
Bimetallism was effectively abandoned by the Coinage Act of 1873, but not formally outlawed as legal currency until the early 20th century. The merits of the system were the subject of debate in the late 19th century.
When did the US switch from bimetallism to fiat money?
During the Civil War, to finance the war the U.S. switched from bimetallism to a fiat money currency. After the war, in 1873, the government passed the Fourth Coinage Act and soon resumption of specie payments began (without the free and unlimited coinage of silver, thus putting the U.S. on a mono-metallic gold standard.)