WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
THE GRANGE AND THE POPULIST PARTY PLATFORM
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The wealthy capitalist who owned the companies supported the ____ standard for money.
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gold
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bimetalism
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -A wealthy, northern industrialist would have been MOST LIKELY to support the Gold Standard in the late 1800s. The Gold Standard favored large banks, big businesses, and corporations because it reduced inflation.
Detailed explanation-2: -In the late 1800s, why did industrialists support the gold standard? The gold standard kept the price of gold fixed, which kept both prices and wages down. people who made more money pay a higher percentage in taxes.
Detailed explanation-3: -Efforts by farmers to bring economic and political change within the Bourbon-controlled Democratic Party seemed hopeless. This led Mississippi farmers to turn to and support the newly created Populist Party.
There is 1 question to complete.