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Republican campaign poster of 1896 attacking free silver. Free silver was a major economic policy issue in the United States in the late 19th century. Its advocates were in favor of an expansionary monetary policy featuring the unlimited coinage of silver into money on-demand, as opposed to strict adherence to the more carefully fixed money supply implicit in the gold standard.
The Silver Party was a political party in the United States active from 1892 until 1911 and most successful in Nevada which supported a platform of bimetallism and free silver. [ 1 ] [ 2 ] In 1892, several Silver Party candidates were elected to Nevada public offices.
The Silver Republican Party, later known as the Lincoln Republican Party, was a United States political party from 1896 to 1901. It was so named because it split from the Republican Party by supporting free silver (effectively, expansionary monetary policy) and bimetallism. The main Republican Party opposed free silver and supported the gold ...
Harvey was also active in campaigning for staunch free silver advocate William Jennings Bryan in Arkansas in the election of 1896. [1] The 1896 campaign, which involved fusion of the People's Party with the Democratic Party proved catastrophic to the former organization, resulting in its widespread disintegration in the wake of Bryan's defeat.
Silverites belonged to a number of political parties, including the Silver Party, 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 ...
The Sherman Silver Purchase Act of 1890, while falling short of the Free Silver movement's goals, required the U.S. government to buy millions of ounces of silver above what was required by the 1878 Bland–Allison Act (driving up the price of silver and pleasing silver miners). People attempted to redeem silver notes for gold.
They gained control of the national Democratic Party in 1896, repudiated his administration and the gold standard, and nominated William Jennings Bryan on a free-silver platform. [ 274 ] [ 275 ] Cleveland silently supported the Gold Democrats ' third-party ticket that promised to defend the gold standard, limit government, and oppose high ...
Advocates of the free and unlimited coinage of silver believed that doing so would cure the country's economic malaise by increasing the money supply. Advocates of the gold standard argued that a "free silver" policy (sometimes called " bimetallism ") would inflate the currency, and lead to difficulties in international trade with nations on ...