Why did populists want the US to move from a country backed by gold to one backed by both gold and silver?

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2026-03-27 23:05

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Populists advocated for the U.S. to adopt a bi-metallic standard of both gold and silver to increase the money supply, which they believed would alleviate economic hardships faced by farmers and working-class citizens. By backing currency with silver in addition to gold, they aimed to create inflation that would raise prices for crops and goods, making debts easier to repay. This shift was seen as a way to counter the deflationary effects of a strict gold standard, which they felt favored wealthy industrialists and banks at the expense of ordinary Americans.

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