Political Developments: Reasons for the formation of the Free Silver Movement Flashcards
What was the core of support for the Democrat party?
The South
What was the South called due to their political consistency?
Solid South
What years did the Solid South last for?
1870-1960
What did it mean if the Democrats had full dominance on The South in terms of the economic conditions for many in the South?
They would continue to be the party for benefitting smaller businesses
Name another group of people in the United States that preferred the Democrat Party
Immigrants
What was the case with the political balance between the Republicans and Democrats from 1884-92?
It was relatively balanced
Name an election which showed the near-balance between the Republicans and Democrats from 1884-92?
The election between Cleveland and Harrison
What policy did Cleveland (Democrat) and Harrison (Republican) both agree on? What does this show in terms of political balance?
Both supported the Gold Standard, meaning there was a balance as they had the same ideas
What was happening with gold production from 1865-90?
It was decreasing
What was happening with silver production from 1865-90?
It was increasing
What was the value of the amount of silver produced in 1860?
$150,000
What was the value of the amount of silver produced in 1890?
$60 million
What did many miners want due to the escalation silver production in the USA?
They wanted it to become part of the currency
What was one success of the Free Silver Movement in 1890?
The 1890 Sherman Silver Act was passed
What did the 1890 Sherman Silver Act do?
Allowed the Federal Government to buy 4.5 million additional ounces of silver per month
Why did miners and farmers support the Free Silver Movement?
Because it would result in inflation and they would be able to pay off their debts easier
What year was the Populist Party founded?
1891
What economic issue occurred in 1893
There was an Economic Depression
