1 gen 1873 anni - Money Question

Descrizione:

One of the big Hot Topic debates at the time was whether or not to expand the money supply. in order for the economy to grow safely it needs more money in circulation. Farmers, debtors, and startups want more soft money in the circulation because this would allow them to borrow money at lower interest rates as well as pay off their loans with inflated dollars. right after the economic Panic of 1873 this led many Americans to blame the gold standard for causing it. and in order to expand the supply of US currency many Advocates campaign for paper money called greenbacks and as well as unlimited minting of silver coins. but on the other hand bankers, creditors, and wanted sound hard money that was backed by gold stored in the government walls. they argued that $ were backed by gold to hold their value in case of inflation.

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