Populism Section Part F

Deflation is an insane drop in money and supplies in a country. People in deflation have the hardest time getting out. This is because the major money loss causes poeple to lend or borrow, but later the money becomes more than the money lended out.
The bimetallic standard is a system in which a government recognizes coins composed of gold or silver as legal tender. The bimetallic standard helps and provides the use of gold. The free silver was a push created by William Bryan and he wanted the use of silver more than gold in America.
The Bland Allison act was created so that federal government would have to purchase and produce more silver merchandise. This is bad also because this creates more money and this would leave to deep depression. This was passed by Congress but vetoed by president Rutherford Hayes.

Report Abuse

If you feel that this video content violates the Adobe Terms of Use, you may report this content by filling out this quick form.

To report a Copyright Violation, please follow Section 17 in the Terms of Use.