What was the importance of Bimetallism?

Answer 1

Bimetallism was important because it proposed a monetary system that used both gold and silver to back currency, aiming to stabilize the economy and provide a more flexible money supply. Advocates believed it would help alleviate economic disparities and support farmers and working-class individuals by increasing the money available for loans and spending. The debate over bimetallism versus the gold standard was a significant political issue in the late 19th century, influencing elections and shaping economic policy in the United States. Ultimately, it reflected broader tensions between agrarian and industrial interests during that period.