Cross of Gold Speech

Definition

The Cross of Gold Speech was a famous address delivered by William Jennings Bryan at the Democratic National Convention in 1896, advocating for the free coinage of silver to combat economic hardship faced by farmers and laborers. This speech symbolized the struggle between agrarian interests and industrial capitalism during a time of significant economic change and was a pivotal moment for the Populist movement, reflecting their demands for political reform and social justice.

5 Must Know Facts For Your Next Test

1. The Cross of Gold Speech was delivered on July 8, 1896, and became one of the defining moments of Bryan's political career.
2. Bryan's passionate advocacy for bimetallism aimed to increase the money supply by allowing the free coinage of both gold and silver, which he believed would alleviate the struggles of debt-ridden farmers.
3. The speech concluded with the memorable line, 'You shall not crucify mankind upon a cross of gold,' emphasizing his stance against the gold standard and its adverse effects on working-class Americans.
4. The impact of the speech helped Bryan secure the Democratic nomination for president, showcasing the rising influence of populist sentiments within the party.
5. Although Bryan lost the presidential election to William McKinley in 1896, his speech resonated with many and laid the groundwork for future progressive movements in American politics.

Review Questions

• How did the Cross of Gold Speech reflect the economic concerns of farmers and laborers during the late 19th century?
  • The Cross of Gold Speech highlighted the economic struggles faced by farmers and laborers who were burdened by debt and low prices for their crops. Bryan argued for bimetallism as a solution, believing that increasing the money supply through free coinage of silver would lead to inflation, thus helping debtors pay off their loans. This resonated deeply with agrarian interests who felt marginalized by policies favoring industrialists and the gold standard, making it a crucial moment in articulating their grievances.
• In what ways did William Jennings Bryan's Cross of Gold Speech influence the Democratic Party's platform in 1896?
  • Bryan's Cross of Gold Speech significantly shifted the Democratic Party's platform towards embracing populist ideals, particularly with respect to monetary reform. His advocacy for free silver became a cornerstone issue, appealing to discontented farmers and working-class citizens. As a result, the Democratic Party adopted this stance officially during the 1896 convention, demonstrating a growing alignment with populist demands for addressing economic inequality and empowering ordinary Americans against elite interests.
• Evaluate the long-term effects of Bryan's Cross of Gold Speech on American political movements into the 20th century.
  • Bryan's Cross of Gold Speech had lasting repercussions on American political movements by energizing populist sentiments that persisted into the 20th century. The themes of economic justice and grassroots activism found new life in subsequent movements, including Progressivism and later New Deal policies. By framing economic struggles as a battle between common people and powerful elites, Bryan's rhetoric influenced future leaders and activists who sought reforms aimed at reducing inequality and ensuring broader participation in democratic processes.

Related terms

William Jennings Bryan:

An American orator and politician who emerged as a prominent figure in the Democratic Party and a key advocate for the Populist movement, particularly known for his stance on monetary reform.

Gold Standard: A monetary system where a country's currency or paper money has a value directly linked to gold, which was a contentious issue among those who felt it favored industrialists over farmers.

Populism: A political approach that seeks to represent the interests of ordinary people, often in opposition to the established elite, and was particularly influential in late 19th-century America.