Who supported the free silver movement?

Who supported the free silver movement?

Supporters of free silver included owners of silver mines in the West, farmers who believed that an expanded currency would increase the price of their crops, and debtors who hoped it would enable them to pay their debts more easily.

Who supports Bimetallism?

Bimetallism and “Free Silver” were demanded by William Jennings Bryan who took over leadership of the Democratic Party in 1896, as well as by the Populists, and a faction of Republicans from silver mining regions in the West known as the Silver Republicans who also endorsed Bryan.

Why did farmers support Bimetallism?

Farmers believed that a bi-metallic money supply would help them deal with the economic issues they faced. Farmers were suffering because prices for their crops were very low, and they had to borrow money at interest rates that were quite high. With a bi-metallic money supply, there would be more money in the economy.

What president was supported by the silver mining industry?

William Jennings Bryan 1896 presidential campaign

What political party supports bimetallism?

The Silver Republican Party, later known as the Lincoln Republican Party, was a United States political party from 1896 to 1901. It was so named because it split from the Republican Party by supporting free silver (effectively, expansionary monetary policy) and bimetallism.

Which political party of the 1890s supported keeping the dollar on the gold standard?

A clear partisan divide in the elections of 1896 and 1900 centered on the bi-metallism debate. Republican candidate William McKinley blamed the Democrats and their platform of bi-metallism for the Panic of 1893, while Republicans and Eastern banking interests called the gold standard “sound money” policy.

What political party was founded by the farmers Alliance?

People’s Party (United States)