LAD/Blog #26: William Jennings Bryan's "Cross of Gold" speech

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The speech was on July 9th 1896. Its about whether or not coinage should be silver since the exchange rate of silver to gold is 16:1. Bryan wanted the gold standard to be rid of, instead replaced with bimetallism which represented all of the US, especially those in the West. This was because he felt that the rich in the East were the people who were benefiting from the Gold standard, and the bi metal standard would bring prosperity to all of the US.  He also talked about how income tax is justified because of its benefits. To close he makes a comparison between the gold standard to the crucifixion, and says that having the gold standard would be to crucify mankind on a cross of gold, hence the name.
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William Jennings Bryan reminded me of Nixon, who like Bryan wanted a new form of backing for US money. Nixon successfully cancelled the direct international convertibility of the US dollar to gold, so now US money only was worth what people thought it was worth, and it was no longer tied to any metal.


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