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Why did populist wanted US to move from a currency backed by gold to one backed by both gold and silver?
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∙ 6y ago
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars.
-It would increase the supply of money.
Amina Stehr
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Why did populist want the US to move from currency backed by gold to one backed by both gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
What was the silver standard and the gold standard as they related to US history?
The silver standard and the gold standard refers to the ways the United States backed their money. For every dollar in the economy, there was a dollars worth of gold to back it up in a reserve. People could go and exchange their money in for gold if they wanted to. The same thing applied to silver.
Why might these countries not have wanted to adopt a single currency?
They didn't want to adopt to a single currency because it would withdraw their own coins and paperbill's from circulating.
How did currency help the economy?
Before currency, there was only a barter economy in which one person trades one good for another. This relies on the assumption that there is a double coincidence of wants, e.g. one person who grows corn who wanted to trade for hogs must find someone who raises hogs that wanted corn. Currency eliminated this because it is a medium of exchange, thus facilitating trade.
Precious metal that soft money advocates demanded be coined again to compensate for the crime of 1973?
Silver! Soft money advocates wanted to pay their debts at cheaper costs and silver helped deflate the money. The crime of 1873 however de-monetized silver. Thus, soft money advocates demanded that silver be coined. And I'm pretty sure you meant crime of 1873...
Why did populist want the US to move from a currency backed by gold to one backed by gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
Why did populist want the US to move from a currency backed by gold to on backed by both gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
Why did populist want US to move from a currency backed by gold to one backed by both gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
Why did the populist want the US to move from a currency backed by gold to one backed by both gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
Why did populist want US to move from a currency backed by gold to one backed by gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
Why did populist wants the US to move from currency backed by gold to one backed by both gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
Why did populist want the US to move from currency backed by gold to one backed by both gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
The Greenback party wanted money to be backed by which metal?
The Greenback party wanted money to be backed by silver rather than gold. They believed that using silver as a standard for the currency would benefit farmers and debtors who needed more money in circulation.
What was the ratio that the populist party wanted to use for silver and gold?
16 oz of silver: 1 oz of gold
Why did Populist want the US to move from a currency backed by gold to one backed by both gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
Which group wanted lowed transportation costs regulation of the railroad's and the coinage of free silver?
Populist
Why did populist want the US to move from a currency backed by gold to one back by both gold and silver?
In 1893, the country was in thrown into a depression that lasted until roughly 1900 from the bursting of the railroad speculation bubble. Populists, who were primarily farmers, wanted to reinstate the system of bimetallism that had traditionally been in place in an effort to inflate the currency to provide them with more cash that could then be used to pay off their debts with cheaper dollars. -It would increase the supply of money.
