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

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2026-02-20 19:45

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Populists advocated for a shift from a gold-backed currency to a bimetallic standard that included both gold and silver to increase the money supply, which they believed would help alleviate economic hardships faced by farmers and laborers. They argued that a silver-backed currency would lead to inflation, making it easier for debtors to pay off loans and stimulating economic growth. This move aimed to provide more financial flexibility and empower the working class against the interests of wealthy industrialists and bankers who favored the gold standard. Ultimately, it was seen as a means to promote greater economic equality and social justice.

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