Cross of Gold

The term is defined in the context of this speech as the stake or involvement an individual or group has in the wider economy. Bryan clarifies that he isn’t referring only to the industrialists or rich businessmen of the urban parts of the United States to which the term most often applies. Instead, his list includes farmers, miners, rural business owners, and any “man who is employed for wages” (200). They play a crucial role in US businesses, with the whole operation relying on the work they do.

Free silver refers to a late-19th-century movement supporting unlimited silver coinage in the US. The movement came about in response to the government’s withdrawal of silver in preference for gold. Free silver was favored by the Populist Party, along with some of the Democratic Party, due to its support of workers, farmers, and miners, who had readier access to silver than to gold. They thought the inflation that would come from increasing the money supply would help ease the debts of this part of the population, which resulted from the recent depression. The Democrats lost the presidential election in 1896, and the popularity of free silver dropped off.

The gold standard is a monetary system that uses gold as currency and the backing for paper money. In the latter case, paper notes can be exchanged on demand for gold. At the time Bryan gave the “Cross of Gold” speech, the Republican Party favored the gold standard, as did banks, businessmen, and others who had ready access to gold. This applied more to the urban areas of the country, particularly the cities on the East Coast. It was also the monetary system used internationally at the time. Advocates for gold used this as a major reason for support, as the widespread usage made it safer and more stable than silver. Opponents of the gold standard noted that the system favored the wealthy over the working population.