Question

In the late 1800s, why did industrialists support the gold standard

Answer 1

B: The gold standard kept the price of gold fixed, which kept both prices and wages down.

Step-by-step explanation:

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Answer 2

During the 1880s, the gold standard was introduced because of the increase in World trade and the industrial development within America. The gold standard was adopted as it removed the risk of fluctuations within different countries currencies within international trade and businessmen were able to make important decisions with the knowledge of what the exchange rates were.

Another reason was that the gold standard was used was because it stopped governments from increasing inflation by issuing paper money which was not supported by gold.