During the United States presidential election of 1896, William Jennings Bryan became famous for supporting which economic policy in his campaign speeches and in his Cross of Gold address?

Difficulty: Medium

Correct Answer: Adoption of a free silver bimetallist policy

Explanation:


Introduction / Context:
The United States presidential election of 1896 is an important event in world and economic history because it highlighted a major debate over monetary policy. William Jennings Bryan, the Democratic candidate, became famous for his Cross of Gold speech and his advocacy of free silver. This meant expanding the money supply by allowing silver as well as gold to back currency, which he believed would help farmers and debtors. The question asks which economic policy he supported, testing knowledge of late nineteenth century American politics and economic ideas.


Given Data / Assumptions:

  • The year is 1896 and the setting is a United States presidential election.
  • William Jennings Bryan is known for his powerful speeches on monetary policy.
  • Options mention free silver, a strict gold standard, removal of tariffs and nationalisation of railroads and banks.
  • We assume the question follows the standard textbook explanation that Bryan championed free silver.


Concept / Approach:
Key concepts include bimetallism and the gold standard. Under a pure gold standard, currency is backed only by gold. Under a bimetallist policy, both gold and silver can be used as a basis for money. Bryan argued that relying only on gold hurt farmers and working people by limiting the money supply and keeping prices low. The approach is to recall which option most closely describes free silver and bimetallism and to rule out policies that do not match his main campaign issue.


Step-by-Step Solution:
Step 1: Remember that Bryan Cross of Gold speech attacked the gold standard and argued for the coinage of silver.Step 2: Understand that free silver or bimetallism means using both gold and silver as legal tender and expanding the money supply.Step 3: Look at option A, which mentions adoption of a free silver bimetallist policy. This matches what we know about Bryan position.Step 4: Option B calls for a strict gold standard, which is exactly what Bryan criticised, so it cannot be his policy.Step 5: Option C talks about removing all protective tariffs. While tariffs were debated, they were not the core issue that made Bryan stand out in 1896.Step 6: Option D mentions nationalising railroads and banks, which was not his primary campaign platform in this election.Step 7: Therefore option A is the correct choice.


Verification / Alternative check:
Standard accounts of the 1896 election clearly identify Bryan as the champion of free silver. He appealed strongly to farmers and miners in the West and South who believed that expanding the money supply through silver coinage would raise crop prices and ease debt burdens. His famous Cross of Gold speech dramatically opposed those who wanted to maintain the gold standard. Historical summaries of the election consistently highlight the monetary policy debate between Bryan and the Republican candidate William McKinley, who supported the gold standard. This confirms that the free silver bimetallist policy was Bryan central economic position.


Why Other Options Are Wrong:
Option B is wrong because a strict gold standard was the position of Bryan opponents, not his own. Option C is wrong because although tariff policy was an important issue in American politics, it was not the main reason Bryan became famous in the 1896 campaign. Option D is wrong because nationalisation of railroads and banks was not his principal platform during this election. These policies do not match the central monetary argument for which Bryan is remembered.


Common Pitfalls:
Students sometimes confuse various reform ideas from the Populist movement and the Progressive Era. They may assume that any radical sounding economic policy, such as nationalising railroads, must be linked to Bryan. Another pitfall is forgetting the exact meaning of free silver and mixing it up with other reforms. To avoid mistakes, connect the phrase Cross of Gold directly with opposition to the gold standard and remember that Bryan answer to this problem was bimetallism, or adoption of a free silver policy alongside gold.


Final Answer:
During the 1896 presidential election, William Jennings Bryan became famous for supporting the adoption of a free silver bimetallist policy as an alternative to a strict gold standard.

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