Cross of Gold speech

The "Cross of Gold" speech was delivered by William Jennings Bryan at the 1896 Democratic National Convention in Chicago. The speech advocates bimetallism because at the time the speech was delivered, the Democratic Party wanted to standardize the value of the dollar to silver and was opposed to pegging the value of the dollar to gold. Inflation that would result from the silver standard would make it easier for poor farmers to pay off their farm debts by increasing their revenue dollars. Backers of the gold standard felt that the protection against inflation was paramount, and the gold standard would prevent an uncontrollable inflation. Such an uncontrollable inflation would put a burden on creditors such as banks whose loans' interest rates would then fall under the inflation rate and garner a loss for the creditor. This speech became famous and gets its name from its triumphant ending:

Having behind us the producing masses of this nation and the world, supported by the commercial interests, the laboring interests and the toilers everywhere, we will answer their demand for a gold standard by saying to them: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.

The Cross of Gold speech may be the inspiration for the yellow brick road in the Wizard of Oz.

This speech was polled by 277 professors of American history. It ranked as one of the fifty most magnificant American documents.

See also, U.S. presidential election, 1896