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Updated: May 17, 2025
Some iv thim is in favor iv coining money out iv baled hay an' dhried apples at a ratio iv sixteen to wan, an' some is in favor iv coinin' on'y th' apples. Thim are th' inflationists. Others want th' gover'mint to divide up the rivinues equally among all la-ads that's too sthrong to wurruk.
The fact that the Republicans had passed the Resumption measure, and that the Democrats had demanded the repeal of its most important feature, made a clear and sharp issue, and the pronounced record of Mr. Hayes as the leader of the fight against the inflationists in Ohio, emphasized the Republican attitude. The Southern question, though treated as secondary, came into marked prominence.
There is one sense in which it is used by children, savages, and thieves, and which makes it mean immediate gratification, and this appears to be the sense in which it is used by the inflationists in Congress, in considering what is for the good of those Western men who owe money at the East.
A Washington correspondent, describing, the other day, the motives which animated the majority in Congress in its performances on the currency question, said, and we believe truly, that most of the inflationists in that body knew very well what the evils of paper-money were, so that argument on that point was wasted on them.
These questions were not party issues at first, and there was no clear-cut division upon them between the two old parties throughout the period. The alinement was by class and section rather than by party; and inflationists and advocates of the redemption of the bonds in currency were to be found not only among the rank and file but also among the leaders of both parties.
The former were called inflationists; the latter, contractionists. Much of the monetary history of the country after the Civil War was concerned with the attempt of the inflationists to expand the supply of currency, and the contractionists to prevent inflation.
For the sake of added votes the inflationists were ready to waive any preference as to the form in which the cheap money should be issued. Before the actual formation of the People's Party, the farmers' organizations had set out to capture votes by advocating free silver. After the election of 1892 free silver captured the Populist organization.
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