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Silverites
The Silverites were members of a political movement in the United States in the late-19th century that advocated that silver should continue to be a monetary standard along with gold, as authorized under the Coinage Act of 1792. The Silverite coalition's famous slogan was "16 to 1" – that is, the ratio of sixteen ounces of silver equal in value to one ounce of gold, a ratio similar to that established in the Coinage Act of 1834. Silverites belonged to a number of political parties, including the Silver Party, Populist Party, Democratic Party, and the Silver Republican Party. The Silverites advocated free coinage of silver. They wanted to lower the gold standard of the United States to silver therefore allowing inflation of the money supply. Many Silverites were in the West, where silver was mined.Gevinson, Alan. Silverites, Populists, and the Movement for Free Silver http://www.teachinghistory.org/history-content/ask-a-historian/25222 Advocates predicted that if silver were u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Populist Party (United States)
The People's Party, also known as the Populist Party or simply the Populists, was a left-wing agrarian populist political party in the United States in the late 19th century. The Populist Party emerged in the early 1890s as an important force in the Southern and Western United States, but collapsed after it nominated Democrat William Jennings Bryan in the 1896 United States presidential election. A rump faction of the party continued to operate into the first decade of the 20th century, but never matched the popularity of the party in the early 1890s. The Populist Party's roots lay in the Farmers' Alliance, an agrarian movement that promoted economic action during the Gilded Age, as well as the Greenback Party, an earlier third party that had advocated fiat money. The success of Farmers' Alliance candidates in the 1890 elections, along with the conservatism of both major parties, encouraged Farmers' Alliance leaders to establish a full-fledged third party before the 1892 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Jennings Bryan
William Jennings Bryan (March 19, 1860 – July 26, 1925) was an American lawyer, orator and politician. Beginning in 1896, he emerged as a dominant force in the Democratic Party, running three times as the party's nominee for President of the United States in the 1896, 1900, and the 1908 elections. He served in the House of Representatives from 1891 to 1895 and as the Secretary of State under Woodrow Wilson. Because of his faith in the wisdom of the common people, Bryan was often called "The Great Commoner", and because of his rhetorical power and early notoriety, "The Boy Orator". Born and raised in Illinois, Bryan moved to Nebraska in the 1880s. He won election to the House of Representatives in the 1890 elections, served two terms, and made an unsuccessful run for the Senate in 1894. At the 1896 Democratic National Convention, Bryan delivered his "Cross of Gold" speech which attacked the gold standard and the eastern moneyed interests and crusaded for inflationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Silver
Free silver was a major economic policy issue in the United States in the late 19th-century. Its advocates were in favor of an expansionary monetary policy featuring the unlimited coinage of silver into money on-demand, as opposed to strict adherence to the more carefully fixed money supply implicit in the gold standard. Free silver became increasingly associated with populism, unions, and the fight of ordinary Americans against the bankers and monopolists, and the robber barons of the Gilded Age capitalism era and was referred to as the "People's Money". Supporters of an important place for silver in a bimetallic money system making use of both silver and gold, called "Silverites", sought coinage of silver dollars at a fixed weight ratio of 16-to-1 against dollar coins made of gold. Because the actual price ratio of the two metals was substantially higher in favor of gold at the time, most economists warned that the less valuable silver coinage would drive the more valuable g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bimetallism
Bimetallism, also known as the bimetallic standard, is a monetary standard in which the value of the monetary unit is defined as equivalent to certain quantities of two metals, typically gold and silver, creating a fixed rate of exchange between them. For scholarly purposes, "proper" bimetallism is sometimes distinguished as permitting that both gold and silver money are legal tender in unlimited amounts and that gold and silver may be taken to be coined by the government mints in unlimited quantities. This distinguishes it from "limping standard" bimetallism, where both gold and silver are legal tender but only one is freely coined (e.g. the moneys of France, Germany, and the United States after 1873), and from "trade" bimetallism, where both metals are freely coined but only one is legal tender and the other is used as "trade money" (e.g. most moneys in western Europe from the 13th to 18th centuries). Economists also distinguish ''legal'' bimetallism, where the law guar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of The United States (1865–1918)
The history of the United States from 1865 until 1918 covers the Reconstruction Era, the Gilded Age, and the Progressive Era, and includes the rise of industrialization and the resulting surge of immigration in the United States. This article focuses on political, economic, and diplomatic history. This period of rapid economic growth and soaring prosperity in the Northern United States and the Western United States saw the U.S. become the world's dominant economic, industrial, and agricultural power. The average annual income (after inflation) of non-farm workers grew by 75% from 1865 to 1900, and then grew another 33% by 1918. With a victory in 1865 over the Southern Confederate States in the Civil War, the United States became a united nation with a stronger national government. Reconstruction brought the end of legalized slavery plus citizenship for the former slaves, but their new-found political power was rolled back within a decade, and they became second-class citizens und ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Coinage Of Silver
Free silver was a major economic policy issue in the United States in the late 19th-century. Its advocates were in favor of an expansionary monetary policy featuring the unlimited coinage of silver into money on-demand, as opposed to strict adherence to the more carefully fixed money supply implicit in the gold standard. Free silver became increasingly associated with populism, unions, and the fight of ordinary Americans against the bankers and monopolists, and the robber barons of the Gilded Age capitalism era and was referred to as the "People's Money". Supporters of an important place for silver in a bimetallic money system making use of both silver and gold, called "Silverites", sought coinage of silver dollars at a fixed weight ratio of 16-to-1 against dollar coins made of gold. Because the actual price ratio of the two metals was substantially higher in favor of gold at the time, most economists warned that the less valuable silver coinage would drive the more valuable g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a Backed currency, monetary system in which the standard economics, economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silver Party
The Silver Party was a political party in the United States active from 1892 until 1911 and most successful in Nevada which supported a platform of bimetallism and free silver. In 1892, several Silver Party candidates were elected to Nevada public offices. The party's success continued throughout the decade, culminating in the election of Governors John E. Jones and Reinhold Sadler. Nevada was the only state to elect both Senators and Congressional representatives from the Silver Party. Nationally, the Silver Party aligned with the Populist Party and to a lesser extent with the Silver Republican Party. By 1902, most pro-silver factions in Nevada had been absorbed by the state Democratic Party organization. Notable members * William M. Stewart – Senator from Nevada * John P. Jones – Senator from Nevada * John E. Jones – Governor of Nevada (1895–1896) * Reinhold Sadler – Lieutenant Governor of Nevada (1895–1896) and Governor of Nevada (1896–1903) * John Spar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1834
The Coinage Act of 1834 was passed by the United States Congress on June 28, 1834. It raised the silver-to-gold weight ratio from its 1792 level of 15:1 (established by the Coinage Act of 1792) to 16:1 thus setting the mint price for silver at a level below its international market price. The Act redefined the U.S. Eagle coin (ten U.S. Dollars) as containing 232 grains of fine gold, compared to 247.5 grains in the prior Act. This fixed the official basis of the dollar as $20.69 per troy ounce. This standard prevailed until 1933, when the official price rose to $35 as a consequence of the Great Depression. The pure silver content of the silver dollar was left unchanged at 371.25 grains. Historical context On June 28, 1834 the Coinage Act of 1834 was signed by Andrew Jackson. It defined the coin weights and allowed the Treasury Department to pay 5 days after deposit at the mint the full amount of the gold. This sped up the process of getting minted coins for gold. The coinage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Party (United States)
The Democratic Party is one of the two major contemporary political parties in the United States. Founded in 1828, it was predominantly built by Martin Van Buren, who assembled a wide cadre of politicians in every state behind war hero Andrew Jackson, making it the world's oldest active political party.M. Philip Lucas, "Martin Van Buren as Party Leader and at Andrew Jackson's Right Hand." in ''A Companion to the Antebellum Presidents 1837–1861'' (2014): 107–129."The Democratic Party, founded in 1828, is the world's oldest political party" states Its main political rival has been the Republican Party since the 1850s. The party is a big tent, and though it is often described as liberal, it is less ideologically uniform than the Republican Party (with major individuals within it frequently holding widely different political views) due to the broader list of unique voting blocs that compose it. The historical predecessor of the Democratic Party is considered to be th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Silver Republican Party
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. The main Republican Party opposed free silver and supported the gold standard. Silver Republican strength was concentrated in the Western states where silver mining was an important industry. A leading spokesman in the House of Representatives was Willis Sweet of Idaho. Silver Republicans were elected to the Congress from several Western states. In both the 1896 and 1900 presidential elections, Silver Republicans supported Democratic presidential nominee William Jennings Bryan over Republican nominee William McKinley. In 1901, the Silver Republican Party disbanded and most of its members rejoined the Republican Party, particularly after Theodore Roosevelt became president in September 1901. However, some Sil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
