Silverites

(noun)

The Silverites were members of a political movement in the United States in the late-19th century that advocated that silver should continue to be a monetary standard along with gold, as authorized under the Coinage Act of 1792. The Silverite coalition's famous slogan was "16 to 1" – that is, the ratio of sixteen ounces of silver equal in value to one ounce of gold, a ratio similar to that established in the Coinage Act of 1834. Silverites belonged to a number of political parties, including the Silver Party, Populist Party, Democratic Party, and the Silver Republican Party.

Related Terms

Examples of Silverites in the following topics:

  • Silverties Versus Goldbugs

    • "Silverites" were pitted against "Goldbugs" in a political conflict towards the end of the 1800s that revolved around currency policy.
    • This angered the proponents of monetary silver, known as the silverites.
    • The "silverites" argued that using silver would inflate the money supply and mean more cash for everyone, which they equated with prosperity.
    • The Silverites advocated free coinage of silver.
    • Many Silverites were from the West, where silver was mined.

  • The Populist Party and the Election of 1896

    • With others, he made certain that the Democratic platform reflected the now-strengthening spirit of the silverites.
    • A two-thirds vote was required for the Democratic Party nomination and at the Convention the silverites just barely had it, despite the extreme regional polarization of the delegates.
    • The delegates from the rest of the country voted 91% against gold, so the silverites controlled 67% of the delegates.

  • The Economy and the Silver Solution

    • Supporters of Free Silver were called "Silverites".
    • The Silverites promoted Bimetallism, the use of both silver and gold as currency at the ratio of 16 to 1, 16 ounces of silver would be worth 1 ounce of gold.

  • The People's Party and the Election of 1896

    • Bryan's strength was based on the traditional Democratic vote (minus the middle class and the Germans); he swept the old Populist strongholds in the west and South, and added the Silverite states in the west, but he did poorly in the industrial heartland.

  • Economic Conditions

    • This angered proponents of the free coinage of silver known as the "Silverites."
    • Silverites, who did not realize that most transactions were handled by bank checks, not sacks of gold, believed the new prosperity was spurred by the discovery of gold in the Yukon.

  • Populism and Religion

    • He was a leader of the silverite movement in the 1890s, a peace advocate, a prohibitionist, and an opponent of Darwinism on religious grounds.

  • The Farm Problem and Agrarian Protest Movements

    • Silverites—who did not realize that most transactions were handled by bank checks, not sacks of gold—believed the new prosperity was spurred by the discovery of gold in the Yukon.

  • The Populist Movement

    • Bryan's strength was based on the traditional Democratic vote (minus the middle class and the Germans); he swept the old Populist strongholds in the West and South, and added the Silverite states in the West, but he did poorly in the industrial heartland.