Stable Currency Quotes
There were more silver mines than gold and the owners and others who wanted to increase the money supply had advocated using silver as well as gold to back the money supply. As silver was more plentiful, financiers felt that the American money had been diluted and other its value went down. Cleveland proposed that the legislation allowing so much silver be repealed. It was. Note the appeal to international opinion. At the time the United States was not one of the world’s superpowers and what the English and French thought about our money was extremely important and likely to persuade voters. A century later, American public opinion was not as influenced by that of other nations.