Question

Which of the following government actions on currency would most likely have been supported by farmers in the late 1800s?

O buying only gold for reserves
buying no silver for reserves
O issuing more unbacked paper money
O issuing more paper money backed by gold

Answer 1

Farmers in the late 1800s would have most likely supported the government action of issuing more unbacked paper money.

Step-by-step explanation:

Farmers in the late 1800s were likely to support the government action of issuing more unbacked paper money. This action would have benefited farmers who were in debt because it would have increased the money supply and caused inflation, making it easier for them to repay their loans with cheaper money. Additionally, farmers often favored the unlimited coinage of silver, which would have increased the amount of paper money in circulation.

Learn more about Government action on currency in the late 1800s