Silverite

Silverite

The Silverites were a political group in the United States in the mid-19th century that advocated that silver should continue to be a monetary standard along with gold. The Silverite coalition's famous slogan was "16 to 1" – that is, the ratio of sixteen ounces of silver equal in value to one ounce of gold, a ratio similar to the Coinage Act of 1792.

The Silverites advocated free coinage of silver. They wanted to lower the gold standard of the United States to silver, thus inflating the economy. Many Silverites were in the West, where silver was mined. Advocates predicted that if silver were used as the standard of money, they would be able to pay off all of their debt. The debt amount would stay the same but they would have more silver money with which to pay it.

The Silverites' main presidential candidate was William Jennings Bryan. Though he ran several times for president, he was never elected.

ee also

*Free Silver
*Bimetalism


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • Silverite — Sil ver*ite, n. One who favors the use or establishment of silver as a monetary standard; so called by those who favor the gold standard. [Colloq. or Cant] [Webster 1913 Suppl.] …   The Collaborative International Dictionary of English

  • silverite — sil·ver·ite …   English syllables

  • silverite — ˈsilvəˌrīt noun ( s) Etymology: silver (I) + ite : one favoring use or establishment of silver as a monetary standard …   Useful english dictionary

  • Grover Cleveland — 22nd and 24th President of the United States …   Wikipedia

  • Ouray County Plaindealer — The Ouray County Plaindealer Type Weekly newspaper Format Tabloid Owner Ouray County Newspapers Publisher David Mullings Editor Patrick Davarn Founded …   Wikipedia

  • William Jennings Bryan — For other persons of the same name, see William Bryan and William Jennings. Infobox Congressman name=William Jennings Bryan office=United States Secretary of State order= 41st term start=March 5, 1913 term end=June 9, 1915 president=Woodrow… …   Wikipedia

  • Coinage Act of 1873 — Caricature from Puck magazine, 1900. The Fourth Coinage Act was enacted by the United States Congress in 1873 and embraced the gold standard and demonetized silver. Western mining interests and others who wanted silver in circulation years later… …   Wikipedia

  • United States House of Representatives elections, 1894 — The U.S. House election, 1894 was a realigning election a major Republican landslide that set the stage for the decisive Election of 1896. The elections of members of the United States House of Representatives in 1894 came in the middle of… …   Wikipedia

  • Free Silver — was an important political issue in the late 19th century United States. To understand exactly what is meant by free coinage of silver , it is necessary to understand the way mints operated in the days of the gold standard. Essentially, anyone… …   Wikipedia

  • Silver standard — The silver standard is a monetary system in which the standard economic unit of account is a fixed weight of silver. The silver standard was widespread until the 19th century, when it was replaced in most countries by the gold standard.Ancient… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”