Primary Source Document Congress attempted to end bimetallism in
1853 by abolishing silver coins, but neglected to mention silver
dollars in its bill, so the country remained on a two-metal
standard until a revision of the law in 1873. Advocates of a
"free silver" policy -- coinage of silver to gold at a ratio of
16 to 1 -- opposed both measures and defended their position
with four arguments: that the single-standard law of 1873 had
been railroaded through Congress; that silver "hard money" was
the coin of the common people; that the Panic of 1873 was
brought on by the "demonetization" of silver; and that the
institution of a free silver policy would increase the supply of
money and end the depression. These theories had special appeal
for the poorer classes and the economically unsophisticated, and
the Democratic Party gave enough support to pass a free silver
bill in the Senate in January 1891. Most observers expected
Democrat Grover Cleveland to join the silver cause, but he
stated his refusal to do so in