The issue of free silver (to increase the amount of currency in circulation) was championed in the election of 1896 by _________

Question

nikitadnepr [17]

3 years ago

12

The issue of free silver (to increase the amount of currency in circulation) was championed in the election of 1896 by _________

_, whose most famous oration was his "Cross of Gold" speech at the Democratic national convention.

Social Studies

1 answer:

Alex73 [517] · Answer 1 · 2022-07-16T09:36:10+03:00

Answer:

William Jenings Bryan

Explanation:

By the time of the 1896 election, the american public was divided between people who supported the gold standard, and those who supported the adoption of silver as back-up for the US Dollar. This position was known as bimetalism. William Jenings Bryan was part of the latter group.

He supported silver because it would increase the money supply and he thought that more money in the economy would increase the standard of living. In a way, this is a form of expansionary monetary policy that aims at invigorating the economy by increasing the amount of curreny people have on their hands.