Post a coherent paragraph resopnse to the Critical Thinking question on p. 243. Make sure your paragraph has a clear topic sentence and addresses all parts of the question using specific examples from the text.
I will bring up the blog at the beginning of class tomorrow, so all posts need to have been made by then. (10 pts.)
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20 comments:
Ward Burrus
Debtors and Farmers were in favor of a period of inflation after the civil war. This is because farmers could not pay their debtors, because when the farmerspayed their debtors their money it was worth more then the money they had borrowed. Debtors wanted this inflation because the vaule of money would fall and they would find it easier to repaywhat they7 owned. Farmers wanted the goverment to issue more money, and they wanted it backed by silver. A cuase of inflation is an increase in the money supply and that is what both th debtors and farmers wanted.
Debtors urged for inflation, a term for the value of money spiking lower and the price of things flying up. The reason debtors wanted inflations is mainly so they could get their loans paid back, with the deflation that was happening they couldn’t afford to pay back the money they owed. They tried to get inflation started by trying to get the government to back their money by not just gold, but by silver so more money would circulate, causing a drop in worth. They passed a law that required the government to buy so much of silver every month, but it later lead to a depression, causing a huge split to occur in US politics. Inflation never took off in the end.
-Chris
Debtors and farmers urged a policy that would bring about inflation, which is constantly rising prices. If the value of money fell, they would find it easier to repay what they owed. The farmers and other people with debts had to pa back their loans with money that was worth more than the moey they had borrowed. One of the causes of inflation was an invrease in the money supply. The farmers and debtors wanted the government to issue more money, and they wanted it backed by silver.
Jaymie Baggerly
February 12, 2009
After the Civil war, debtors really wanted inflation to come about. They wanted this because if the certain things cost less, that was less value of what they had to pay back. By having all this set up, it would be a whole lot easier to pay back whatever debts they owed. Debtors, farmers, and mine-owners all pressured for the Bland-Allison Act, and the Sherman Anti-trust Act. In acting gout and pushing for these things to happen, all the people in favor of inflation helped to get their dreams made into a reality!
Matt Bass
Debtors wanted inflation in the period after the Civil War because there was much deflation, and people who were in debt were paying too much to repay their debts than they actually owed. They tried to achieve inflation by asking the government to print more money, lowering its value. Another way the debtors tried to achieve inflation was by way of the Bland-Allison Act. This act required the government to buy and coin a certain quantity of silver every month.
Debtors and farmers pushed to have an period of inflation because the farmers could not repay their debtors because the money they owed back to the debtors was more money that they borrowed in the first place. Debtors wanted inflation so they could get there money back from the people that owed them money. The way they tried to do so was by asking the government to print more money and produce silver and not just gold to have more money circulating and lower its worth. Later on though inflation never worked and epically failed.
After the Civil War, during the time of deflation, workers, mostly consisting of farmers, had a lot of difficulties paying off debts they owed. Because they had to pay more to be free of debt, they began pushing for an inflation policy. If inflation occurred, the value of the money would fall, making it much easier to pay off debt. They began to pressure the government into backing the money up by silver. This would then bring about inflation, and thus be easier for debtors. In the late 1800s, Congress passed the Bland-Allison Act and the Sherman Silver Purchase Act in reply to the pressure of the debtors.
After the civil war, debutors wanted inflation so they would get to pay back less money to their clients. Anyone who was in debt would have to pay back more money than what they originally owed. They sparked the infltion by getting the government to print more money that was backed by silver.
After the civil war, debutors wanted inflation so they would get to pay back less money to their clients. Anyone who was in debt would have to pay back more money than what they originally owed. They sparked the infltion by getting the government to print more money that was backed by silver.
Debtors and farmers wanted the inflation in the period after the civil war. Because the farmers couldnt pay thier debtors. Debtors wanted the inflation because the vaule of money would fall and they would find it easier to repay what they owed. Farmers wanted the goverment to issue more money, and they wanted it backed by silver. A cuase of inflation is an increase in the money supply
After the Civil War, the US was in a state of deflation, which meant that those with debts had to pay back money worth more than the money they had borrowed. These people became proponents of inflation, or constantly rising prices. If inflation was established, it would be easier to repay money if its value dropped. To achieve this, farmers and debtors pressured Congress into passing the Bland-Allison Act and the Sherman Silver Purchase Act. Under these acts, the government would issue more mo ney, and they were required to begin backing it with silver again. The government also had to buy and coin a certain amount of silver each month.
The Populist party proposed increasing the amount of money into circulation causing inflation. One of the main reasons they tried to do this was because farmers who had taken loans from the bank were actually paying more than their loan was worth because of deflation. They had passed the Bland- Allison act and the Sherman Silver Purchase Act. This was so the government could disperse more money into the economy that was backed by both silver and gold. This is how the Populist gained a lot of support from other party members.
Debtors wanted inflation during the period after the Civil War. During the 1800s, deflation was hurting farmers and debtors. They had to pay debts with borrowed money. The payed money was worth much more than the borrwoed money. They thought, if the value of money decreased, it would be easier to pay debts. The debtors wanted the government to increase the money supply. The Bland-Allison Act and the Sherman Silver Purchase Act were passed, which helped with the deflation.
Debtors and farmers in the Populist Party insisted on inflation or the constantly rising of prices. They believed that when the value in money began to fall, they could repay their debts. To achieve the results they so sought for, they pressured congress into passing the Bland- Allison Act in 1878 and the Sherman Silver Purchase Act in 1890. These acts obligated that the government send out a certain amount of silver every month.
Poor farmers and other debtors (people who owe debts) were desperate for inflation (rising prices) after the Civil War. The country had been trapped in a downward spiral of deflation (falling prices) since the war ended. Debtors encouraged inflation because they felt that it would be easier to pay off their debts if the value of money fell. The debtors encouraged increased production of currency (backed by silver as opposed to gold, the supply of which was dwindling). They felt that the overly productive silver mines would make this easier to achieve. Debtors and mine owners pressured the government until they passed the Bland-Allison act, and later the Sherman Silver Purchase Act, which demanded the buying and coinage of a set amount of silver each month. This temporarily satisfied the people, but it was far from a permanent solution the United States’ economic problems.
In the time period after the Civil War, the U.S. government ceased to issue silver-backed paper money, causing a shortage of cash, which affected the nation economically and politically. This shortage of money, lead to constantly falling prices, creating a period of deflation. This period was especially hard on those indebted during these times, who were mostly farmers. In response to falling farm prices, farmers across the nation began to organize themselves into union esque organizations that began to take political stands on the economic issues of the time, electing supporters to state legislatures and Congress. As the opinion of such groups became more vocal and recognized, they combined with labor groups to form the new Populist party. The Populist party urged for economic reforms that would aid the struggling laborers and farmers of this time period. One reform that was pressured upon the government was the issuing of more money, and to resume backing money by both gold and silver. This influx of cash into the economy would bring about inflation, allowing those in debt to pay off their debts more easily, whereas before, the debtors found it difficult to pay off large debts with small amounts of valuable money. This reform was acknowledge and manifested in the passage of the Bland-Allison Act and the Sherman Silver Purchase, both of which requiring the government to buy certain amounts of silver each month. These reforms had the desired effect, and those who expressed them were satisfied for the time being. The economic difficulties that were faced by farmers and laborers during the post-Civil War period gave rise to new political platforms and economic strategies.
In the period after the Civil War, the people with debts wanted inflation.Because if the value of money fell, they would find it easier to repay what they owned.They wanted the government to issue more money, and they wanted it backed by silver.And to response the pressure from the people, the Congress passed the Bland-Allison Act and the Sherman Silver Purchase Act which were required the government to buy and coin a certain amount of silver each month.
After the Civil War their were many people who wanted inflation, but the farmers and debtors were the main two groups of people. The debtors and farmers wanted inflation because the farmers could not pay back the money they owed the farmers. But if there were an inflation period the value of money would fall and be have the same value as it did when the farmers had borrowed it. The debtors wanted the inflation because they could pay back what they owed easier if the money was worth less. They tried to achieve inflation by increasing the money flow.
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