WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
ROBBER BARONS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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to increase the amount of money in circulation
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to reduce economic inflation
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to raise campaign contribution limits
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to decrease the bargaining power of labor unions
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Detailed explanation-1: -Many populist organizations favored an inflationary monetary policy because it would enable debtors (often farmers who had mortgages on their land) to pay their debts off with cheaper, more readily available dollars. Those who would suffer under this policy were the creditors such as banks and landlords.
Detailed explanation-2: -Answer and Explanation: The Populist Party wanted free coinage of silver to expand the money supply and encourage investment. Although broadening the basis of the money supply to include both gold and silver (known as “bimetallism") would create inflation, this would help debtors pay their creditors.
Detailed explanation-3: -The Free Silver Movement was a political movement that proposed returning to “bimetallism”: Those in the movement wanted money backed by silver to be added to the money supply, which was backed by gold. Adding to the money supply would have ended the deflation and created the possibility of inflation.
Detailed explanation-4: -Supporters of free silver included owners of silver mines in the West, farmers who believed that an expanded currency would increase the price of their crops, and debtors who hoped it would enable them to pay their debts more easily.