What economic effect did supporters of bimetallism expect from increasing the money supply?
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Correct answer: Inflation
Increasing the money supply would lead to inflation. This would raise prices and reduce the real burden of debt.
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More Gold Standard and Bimetallism questions
- What was the Coinage Act of 1873 criticized for by silver supporters?
- Which group generally opposed bimetallism and supported the gold standard?
- What was one major disadvantage of the gold standard according to its critics?
- What role did silver mining interests play in the bimetallism debate?
- Which outcome resulted from the 1896 presidential election regarding monetary policy?
- What is bimetallism?