AP US History in 1 Minute Daily: The Money Question (Day 202/309)

Hey APUSHers, let’s chat about the Money Question as part of my series- APUSH in 1 Minute Daily!

History of the Gold Standard in the United States, Vaulted

During the Gilded Age significant economic transformations led to a contentious debate over the nation’s monetary system and its impact on economic policies.

“On Grover’s ‘Financial Policy’ Safety” Internet Archive

The main point of contention was whether the U.S. should adhere to the gold standard, tying the value of the currency to a fixed amount of gold, or adopt bimetallism, allowing for the circulation of both gold and silver currency.

Republican campaign poster from 1896 attacking free silver, Wikimedia Commons

Supporters of the gold standard argued for monetary stability, believing it would curb inflation and attract foreign investment. 

Survival of the Fittest, Wikimedia Commons

Conversely, advocates for bimetallism, especially farmers and debtors, sought to increase the money supply, hoping it would alleviate debt burdens and support economic growth. 

During the Gilded Age, heated debates over the money question intersected with broader issues of economic inequality, agrarian distress, and the influence of powerful financial interests.

Join me tomorrow as I explain the Populist Party in the next APUSH in 1 Minute Daily!