Question

Why did Plains farmers in the late 1800s tend to support bimetallism?

A) Because they were opposed to any monetary system involving silver.

B) Because they believed bimetallism would increase the value of their crops.

C) Because they thought it would lead to a more stable money supply.

D) Because they wanted a single gold standard.

Answer 1

Option (B), Farmers in the late 1800s supported bimetallism because it would likely create inflation, which in turn would help them pay off debts and increase the value of their crops.

Step-by-step explanation:

Plains farmers in the late 1800s tended to support bimetallism because they believed it would increase the money supply by allowing both silver and gold to be used, thereby creating inflation. Inflation was desired because it would increase the value of their crops, help pay off debts with cheaper currency and relieve the economic pressure they were under.

The adoption of a strict gold standard had restricted the money supply and benefitted eastern interests, while a bimetallic standard would likely increase the amount of money in circulation, alleviating some of the financial distress faced by farmers.

The correct answer to the question is B) Because they believed bimetallism would increase the value of their crops.