Free silver was a plan to put more money in circulation in the United States by coining silver dollars. The plan was backed chiefly by farmers and silver miners in the late 1800’s, when the United States government usually used gold coins to redeem paper money.
Supporters of the free-silver plan wanted all silver that was brought to the mint made into coins on a standard that made 16 ounces of silver equal to 1 ounce of gold. The 16-to-1 standard had existed before the U.S. Treasury stopped making silver dollars in 1873.
Farmers believed the plan would help them get higher prices for crops. Miners and silver producers also favored it as a market for their silver. The Populist Party supported the free-silver plan in the 1892 elections, and Democrat William Jennings Bryan urged the adoption of the plan when he ran for President in 1896. The issue died after Alaskan gold discoveries in 1896 increased the supply of money.
