Farmers opposed the gold standard because they claimed that it would?

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2026-08-16 06:25

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Farmers opposed the gold standard because they believed it would limit the money supply and lead to deflation, which would decrease prices for their crops and make it harder for them to pay off debts. They argued that a more flexible monetary system, such as bimetallism (which included silver), would allow for an increase in the money supply, benefiting debtors by raising prices. This opposition stemmed from their concerns over financial stability and economic inequality in a predominantly agrarian society.

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