Asked by Amy~
What was the Gold Standard in William Jennings Bryan v. William McKinley?
- that gold was only standard to redeem paper money. What does this mean?
Thank You.
- that gold was only standard to redeem paper money. What does this mean?
Thank You.
Answers
Answered by
Ms. Sue
Once upon a time, each paper dollar represented a certain amount of gold owned by the U.S. government. That was called the gold standard. Theoretically, people could go to a bank with a paper dollar and the bank would trade it for a stated amount of gold.
http://economics.about.com/cs/money/a/gold_standard.htm
http://economics.about.com/cs/money/a/gold_standard.htm
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.