why did populist want the u.s to move from a currency backed by gold to one backed by both gold and silver

Answer 1

I answered this question in another post so I'll paste the response below. Hope this helps:

In the Gilded Age, western farmers faced major problems: crop prices fell due to over-production by farmers, banks charged high interest rates on mortgages and foreclosed on farmers, and railroads charged high rates for shipping crops. During the Civil War, the government printed lots of paper money called "greenbacks." This surplus money led to inflation so the government withdrew paper money and returned to the gold standard. As a result, the U.S. experienced deflation which lowered prices but lowered prices meant farmers might be unable to repay debts and face financial ruin. These problems convinced farmers to organize into groups like the Grangers and the Farmers' Alliance but both groups failed to improve farmers' lives. So, in 1890, westerners formed a new political party to bring about reforms called the Populist Party. The Populists demanded the end to pro-business, laissez-faire policies and begin to regulate railroads to force them to lower rates on farmers. They wanted a national income tax to take the tax burden off farmers, and they called for an amendment to allow citizens (not state legislatures) to directly elect Senators. Populists demanded bimetallism: using currency based on gold and silver in order to inflate the money supply. From 1890 to 1896, the Populist Party was an influential 3rd party and challenged the Democratic and Republican Parties. During this time, 3 governors, 10 congressmen, and 5 senators were elected Populist candidates. In 1892, a populist candidate ran for president but lost. In the presidential election of 1896, bimetallism was the most important issue and Populist candidate William Jennings Bryan gave his "Cross of Gold" speech that explained the disastrous effects of the gold standard on working class Americans. Despite Bryan's success among farmers in the West, William McKinley won the election and returned to the gold standard and killed the bimetallism movement. After the election of 1896, the Populist Party died, but Populist ideas such as income tax, direct election of Senators, and regulation of railroads would be enacted in the Progressive Era.