3 years ago

Why were many farmers upset with the gold standard?

1 answer:

4 0

Answer:

Generally the gold standard restricted the amount of money that was able to be in circulation because every dollar had to be backed by real gold. This shortage of money (deflation) drove down their prices of crops and therefore driving down their income, and wasting all of their hardwork. People didn't have the money to pay higher prices for their crops because there was no money in circulation or avalible to them, so the Gold Standard really harmed the livihood of farmers.

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