And thus William Jennings Bryan's famous Cross of Gold speech: "You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold."
The gold standard meant that there was no ability to increase the monetary base (and thus no inflation!) at that time (1890s), causing much bitterness among populists.
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The US had no net inflation from 1800-1914, and endemic inflation ever since.
And thus William Jennings Bryan's famous Cross of Gold speech: "You shall not press down upon the brow of labor this crown of thorns; you shall not crucify mankind upon a cross of gold."
The gold standard meant that there was no ability to increase the monetary base (and thus no inflation!) at that time (1890s), causing much bitterness among populists.