Are these your choices?
A. caused the value of currency to contract.
B. brought immediate relief to people suffering under the 1893 depression.
C. had no long-term possibility of reviving the depressed economy.
D. empowered conservative Democrats.
What is your answer?
in 1893, the cleveland administration;s repeal of the sherman silver purchase act
2 answers
As with a lot of multiple choice questions, the answers beg the issue. By doing away with silver coinage, it increased dependence on gold to back US currency, and since gold was scarce (silver was plentiful), the banks clung to a gold standard. Cleveland thought unsecured greenback dollars would cause inflation so farmers could pay debts in deflated currency, but the banks didn't buy it, so the depression deepened. It was a position taken by Republicans, so when it didn't work, it did empower Democrats who wanted the silver standard. So, either A or D could be correct. I wish I knew what your teacher emphasized.