WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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now file for bankruptcy
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vote
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afford to buy materials with prices that were lower due to “cheap silver”
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sell their land for very high prices
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Detailed explanation-1: -The issue was over what would back the US currency. The two options were: gold (wanted by the “Goldbugs” and William McKinley) and silver (wanted by the Silverites and Bryan). Unbacked paper (wanted by the Greenbacks) represented a third option.
Detailed explanation-2: -A conflict over the value of the nation’s currency led lenders to call in their loans. A weakening American currency frightened foreign investors, helping to start a four-year depression. One way to limit the supply of money is to tie the dollar to gold. This was the practice in the Gilded Age.
Detailed explanation-3: -What common problem did farmers of the 1890s and farmers of the 1920s face? Explanation: Demands for the eight hour day were common among labor unions in the later 1800’s, such as the American Federation of Labor and the Knights of Labor.
Detailed explanation-4: -Farmers sought inflation of the money supply so that more money would be available to them for credit, prices for their crops would rise, and debts would become easier to repay.