“Silverites” believed that currency should be redeemable in silver as well as gold. among organized political forces over industrial capitalism,” positions on currency had solidified into a “battle of the standards.” “Gold bugs” believed that a “sound” national economy must be based on the gold standard to ensure the dollar’s stability, guarantee unrestricted competition in the marketplace, and promote economic liberty. By the 1896 election, designated by historian Walter Dean Burnham as “the first confrontation. suffered through two major economic depressions that heightened sectional and class conflict.
From 1873 through the late 1890s, the U.S. Political battles over currency issues became intensely divisive during the last quarter of the 19th century as industrialization accelerated in the Northeast, while the South and newly settled areas of the Midwest remained dependent on farming.
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