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Article: Free Silver
- Article from:
- Gale Encyclopedia of U.S. Economic History
CopyrightCOPYRIGHT 1999 The Gale Group Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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FREE SILVER
A U.S. political movement of the late 1800s, "Free Silver" advocates argued for unlimited government coinage of silver. Like members of the Green-back Party, Free Silver supporters included many farmers who, in the 1870s, found themselves in debt from the effects of a drop in farm prices and an increase in costs. The agrarians were joined in their fight by silver mining interests in the West and members of the People's (Populist) and Democratic parties. "Silverites" believed the government purchase and coinage of silver would have an inflationary effect which would raise prices and put more money in circulation thereby allowing debts to be paid. In 1878 Congress passed a ...