Why did the Populist Party want unlimited coinage of silver quizlet?

Why did the Populist Party want unlimited coinage of silver quizlet?

Government has to have so much money in gold so that they can print money. Political issue involving the unlimited coinage of silver. Populists campaigned for silver-backed money rather than gold-backed, believed to be able to relieve working conditions and exploitation of labor.

What did the Democrats believe would be gained by the free coinage of silver quizlet?

More silver = more inflation. A speech delivered by William Jennings Bryan at the Democratic National Convention in Chicago that occurred in 1896. Bryan supported bimetallism, or free silver, which he believed would bring the naiton prosperity.

What is the best explanation of the Free Silver issue?

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 did the Populist Party want quizlet?

The Populist party. What were the goals of the People’s party? Free coinage of silver, end to protective tariffs, end to national banks, tighter regulation of the railroads, and direct election of Senators by voters.

What was the purpose of the Populist Party quizlet?

A US political party that sought to represent the interests of farmers and laborers in the 1890s, advocating increased currency issue, free coinage of gold and silver, public ownership of railroads, and a graduated federal income tax. Also called People’s Party.

What is the main point of Bryan’s speech quizlet?

Delivered by William Jennings Bryan at the 1896 Democratic National Convention in Chicago. The speech advocated bimetallism. At the time, the Democratic Party wanted to standardize the value of the dollar to silver and opposed pegging the value of the United States dollar to a gold standard.

Which party demanded free and unlimited coinage silver and gold?

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 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 did the Populist Party want to accomplish?

One of the Populist Party’s central goals was to create a coalition between farmers in the South and West and urban laborers in the Midwest and Northeast.

What was the purpose for the Populist Party?

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.

Why did the silverites want unlimited coinage of silver?

“Silverites” believed that currency should be redeemable in silver as well as gold. They agitated for “free silver,” or unlimited coinage of silver, a metal that could be mined in abundance in the West, to produce an increased and more flexible money supply that they hoped would lead to a more equitable economy and foster social reforms.

Why did Populists fight for the coinage of silver?

However, Populists were not fighting for unrestricted coinage. The purpose of fighting for coinage of silver was to increase the amount of money in circulation and move to a trust based system that a silver coin with a $50 stamped on it is truly worth that.

Why was the demonetization of silver so important?

Professor of government Elizabeth Sanders includes the demonetization of silver as one of a few significant policies of the period that led many working people, especially farmers, to believe that a “fraud against the people” was being “perpetrated by the national state on behalf of a financial elite.”