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skyleezarain487
skyleezarain487
18.07.2019 • 
History

"our country finds itself confronted by conditions for which there is not precedent in the history of the world; our annual agricultural productions amount to billions of dollars in value, which must, within a few weeks or months, be exchanged for billions of dollars' worth of commodities consumed in their production; the existing currency supply is wholly inadequate to make this exchange; the results are falling prices, the formation of combines and rings, the impoverishment of the producing class." —from the populist party platform, 1892 according to populists, how would the free coining of silver address the problems outlined in the party's platform? coining more money would lead to inflation, which would increase wages for factory workers who purchase farmers' crops. speeding up the circulation of money would raise interest rates, which would make banks less profitable. increasing the money supply would raise crop prices, making it easier for farmers to pay their debts and make profits. using both silver and gold as coins would enlarge the federal budget, making it possible to pay for more welfare programs for the poor

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