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Which group wanted to help farmers pay their debts by creating more silver?
The Free Silver Movement, backed most strongly by Western miners and their employees and by wheat and cotton farmers, wanted the U.S. to continue using silver as well as gold for its coins. This would have created more money and therefore caused inflation (when there is more money available, people are willing to pay higher prices). Because of inflation, farmers would have received more money for their products and would have been more easily able to pay their debts to banks, manufacturers and suppliers of farm equipment, and the railroads that transported their goods, with money that was worth less than when they had borrowed it. The Free Silver Movement was allied to the Populist Party and then became part of the Democratic Party. "Free silver" became the principal issue in the unsuccessful presidential campaigns of William Jennings Bryan, Democratic Party nominee in 1896 and 1900.
How did the farmers handle the free silver movement?
It did not directly impact the agricultural or (granger) community. They may have applauded it as as source of tax revenue in the more sparsely populated zones- which would included farms, right..
Who did the populists represent?
The Populists Party represented the views of the ordinary people. It mostly consisted of farmers and those who preferred the free coinage of silver.
What is meant by the term free coinage of silver?
U.S. mints would allow unlimited conversion of silver at a rate lower than that of gold.
Who is the populist party?
People in the Populist party had interest in the free coinage of silver, were mostly created by labor and farmers, wanted a graduated income tax, and government control of monopolies.
Why did western farmers wanted free silver?
why did western farmers want free silver?
Why did farmer want free silver?
why did western farmers want free silver?
Western farmers wanted free silver because they felt it would?
Increase crop prices.
Who gave the most support to the free silver campaign of 1896?
farmers, who thought that a larger money supply would ease their bebt.
Why did farmers support bimetallism or free silver in the late 1800?
In the late 1800s, a political party emerged known as the Populists that was comprised dominantly of farmers. This group wanted the free and unlimited coinage of silver. Led by William Jennings Bryan, the Democratic nominee for the 1896 election, free silverites demanded inflation of the silver coin. The farmers supported bimetallism or free silver in the late 1800s because many of them were struggling to make ends meet, and the inflation of silver would add much needed financial respite. For example, if one were to borrow two dollars in gold, this sum could be paid back in two dollars of silver. Silver and gold, under a Populist notion, are considered equal. Yet silver is NOT equivalent to gold, and the true worth of the debt repaid in silver would be equivalent to one dollar.
Which groups did populists appeal to most?
The Populist Party appealed strongly to farmers who were deep in debt and felt betrayed by the traditional political parties. It proposed a progressive income tax and would allow the free coinage of silver which appealed to many others.
What group supported free coinage of silver in order to increase the money supply?
farmers
Why did the populist party support free silver?
yes, it did they are the ones that wanted it to happen. the populist party was made up of farmers and farmers wanted it so they could pay of their debt
Who Favored free coinage of silver?
The southerners and the westerners primarily favored the free coinage system.
Why did the Morgan dollar cease to be minted?
The Morgan Dollar was minted from 1878 to 1904. Then again in 1921. The Morgan Dollar was no longer minted after the passing of the Coinage Act of 1873 which resulted in the stoppage of coining free silver.
Why did the farmers want silver coinage and inflation?
silver coinage induced inflation which was beneficial to the farmers because it allowed farmers to pay loans of quicker and loans themselves were easier to acquire with the larger supply of money.
Would the free coinage of silver increase or decrease the amount of money in circulation?
The free coinage of silver would have to increase the amount of money in circulation.
