In this speech William Jennings Bryan addresses the economic problem of currency that was a prominent issue. Jennings Bryan believed that the distribution of silver 16x more than gold was foolish and would lead to many more problems. Granted, he was a businessman so this idea of continuing to issue gold in larger quantities than the Populist Party was bias, but Jennings Bryan was the voice for the hard working businessmen who were going to be hurt if this new 16:1 ratio of silver to gold were to happen. Lastly Jennings talks to the fact that the gold standard needs to remain strong during a time where the United States was not at its strongest.
Sherman Silver Purchase Act, 1890, passed by the U.S. Congress to supplant the Bland-Allison Act of 1878. It not only required the U.S. government to purchase nearly twice as much silver as before, but also added substantially to the amount of money already in circulation.
No comments:
Post a Comment