History High School

In their political platform (Virtual Reader), the Populists of 1896 sought to increase the usage of silver as part of the money supply.

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Answer 1

The Populists of 1896 sought to increase the usage of silver as part of the money supply with the aim of providing debt relief to farmers and other debtors.

In their political platform, the Populists of 1896 sought to increase the usage of silver as part of the money supply. They believed that the use of silver to back currency would result in inflation and cause the prices of goods to rise. This, in turn, would help farmers who were struggling with low prices for their crops and high debts.Silver was seen as a viable alternative to gold, which was the primary backing for currency at the time.

The Populists believed that an increase in the money supply would stimulate the economy and improve conditions for the working class. However, their platform was met with opposition from business leaders and bankers who feared that an increase in the money supply would lead to inflation and an economic collapse. Despite this opposition, the Populists' call for the use of silver as part of the money supply had a lasting impact on the country's monetary policy.

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