Saturday, January 5, 2008

LAD #20: William Jennings Bryan's Cross of Gold Speech

The Cross of Gold speech was made by William Jennings Bryans at a Democratic National Convention in Chicago. His speech basically stated that the gold standard was worthless, and that it should not be used in America. Bryans and the Democratic Party wanted to use the silver standard instead because it was in greater supply than gold. This meant that when inflation occurred, debtors who were poor would be able to pay of their debt. Bryans said that although England had the gold standard, “we shall restore bimetallism, and then let England have bimetallism because the United States have.” He says that the gold standard is not beneficial to the general public in America and that it is not useful. Bryan closes his speech by saying that “You shall not crucify mankind upon a cross of gold.”

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