Why farmers were opposed to the gold standard?

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2026-03-11 19:35

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Farmers opposed the gold standard because it limited the money supply and often led to deflation, which reduced the prices they received for their crops. With a fixed amount of gold backing the currency, there was less money available for loans, making it harder for farmers to finance their operations and repay debts. This monetary policy favored creditors and wealthier classes, exacerbating the economic struggles of farmers, particularly during periods of economic downturn. They advocated for the inclusion of silver to increase the money supply and promote inflation, which would benefit their financial situation.

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