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date: 28 May 2022

Free Silver Movement. 

Source:
The Oxford Companion to United States History
Author(s):
William F. HolmesWilliam F. Holmes

Traditionally the United States had a bimetallic monetary system in which sixteen ounces of silver equaled one ounce of gold. As the world supply of silver became scarce by the 1850s, the value of silver rose and it was rarely used to coin money. In the 1860s, western miners discovered new supplies of silver, which decreased the commodity's value. By then more nations were adopting the ... ...

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