Silverite
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The Silverites were members of a political movement in the
Populist Party, Democratic Party, and the Silver Republican Party
.
The Silverites advocated
free coinage of silver. They wanted to lower the gold standard of the United States to silver therefore allowing inflation of the money supply. Many Silverites were in the West, where silver was mined.[1]
Advocates predicted that if silver were used as the standard of money, they would be able to pay off all of their debt. The debt amount would stay the same but they would have more silver money with which to pay it.
The Silverites' main presidential candidate was William Jennings Bryan, whose famous Cross of Gold speech argued in their favor. He unsuccessfully ran for president several times.
See also
References
- ^ Gevinson, Alan. Silverites, Populists, and the Movement for Free Silver http://www.teachinghistory.org/history-content/ask-a-historian/25222
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