Which group generally opposed bimetallism and supported the gold standard?
Show answer and explanation
Correct answer: Bankers and creditors
Bankers and creditors favored the gold standard because it limited inflation. Stable currency preserved the value of loans and investments.
Keep practicing
More Gold Standard and Bimetallism questions
- 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?
- Why did farmers prefer inflationary policies like bimetallism?
- What economic condition is commonly associated with the gold standard in the late 19th century?