Question

Between 1880 and 1896, the price level in the united states fell 23 percent. this movement was ______ for bankers of the northeast and ______ for farmers of the south and west.

Answer 1

Between 1880 and 1896, the price level in the united states fell 23 percent. This movement was good for bankers of the northeast and bad for farmers of the south and west.

Replacing the gold standard with a bimetallic standard was one suggested solution, respecting the solution both gold and silver were minted into coin. The move to a bimetallic standard increased the money supply and would stop the deflation.