WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
WESTWARD EXPANSION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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They believed it would hurt farmers by raising crop prices.
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They believed it would cause inflation and hurt the economy.
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They believed it would encourage workers to go on strike.
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They believed it would lead to higher tariffs on imports.
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Detailed explanation-1: -Gold supporters believed that silver coinage would lead to fluctuation of values, ruin credit, and turn business decisions into a wild gamble. Many Democrats argued that a restricted money supply would lead to lower wages and depressed prices for farmers and others.
Detailed explanation-2: -Outside the mining states of the West, the Republican Party steadfastly opposed free silver, arguing that the best road to national prosperity was “sound money", or gold, which was central to international trade.
Detailed explanation-3: -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-4: -Bryan wanted the United States to use silver to back the dollar at a value that would inflate the prices farmers received for their crops, easing their debt burden. This position was known as the Free Silver Movement.