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Date Posted: 23:28:21 12/11/02 Wed
Author: Bdizel
Subject: CH19 The Silver Question

The Silver Question
A. Cleveland believed that the instability of the currency was the primary causes of the depression
1. The “Money Question”
a. The money dealing or the currency was so complicated and confusing
2. The US was know for two metals gold and silver
a. The currency ratio was 16 silver to 1 gold in 1870s
b. The people would melt the silver coins to make jewelry, which worth was more than the currency value
c. Later on became worthless
B. Crime of ’73
1. Involved two groups
a. The silver mine owners wanted the government to buy the extra silver because they pay better than the market price
b. The other group was the farmers, they wanted more money (inflation of the currency) which raises the price in farm products; they try to reduce the debt
c. The Sherman Act 1890 required the government to purchase silver (not in coins) and pay it with gold
C. Symbolic Importance of the Currency Question
I didn’t understand this part sorry

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