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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To increase the amount of money in circulation and raise farm prices
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To raise campaign contribution limits
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To reduce economic inflation
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To decrease the bargaining power of labor unions
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Detailed explanation-1: -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-2: -Farmers wanted to expand the currency supply by coining an unlimited amount of silver. They believed that if more money was in circulation, prices would go up for all goods, including farm products. If profits increased on their crops, farmers could pay their debts.
Detailed explanation-3: -Free silver was the central issue for Democrats in the presidential elections of 1896 and 1900, under the leadership of William Jennings Bryan, famed for his Cross of Gold speech in favor of free silver.