In order to try to understand why our financial system is in the state it's in, I've been reading this book. I heard the author being interviewed by Margaret Throsby and immediately contacted Mr Amazon and ordered it. Now...did you know this?
"...In the 1890's the issue of gold became central to the US presidential campaign of William Jennings Bryan. Southern farmers in the USA borrowed from north-eastern bankers to finance their farms, equipment and crops. The debt had to be repaid in gold. As gold prices rose and the price of farm produce fell, the farmers' earnings fell and their debt repayments grew, fuelling resentment. The farmers wanted more money in circulation and advocated silver as well as gold currency - know as bimetallism.
At the 1896 Democratic Convention, Bryan spoke passionately: 'You shall not press down upon the brow of labor this crown of thorns. You shall not crucify mankind upon a cross of gold.' Bryan was defeated in the 1896 and 1900 election by William McKinley and the USA adopted the gold standard in 1900.
The bimetallism debate spawned Frank Baum's satire on the currency debate, the WIZARD OF OZ (actually the WIZARD OF OUNCE - of gold). Dorothy, the Kansas farm girl, represented rural America. The Scarecrow, Tinman and cowardly Lion represented farmers, factory workers and Bryan respectively. Dorothy and her companions' journey down the gold road is the 1894 Coxey march of unemployed men (named after its leader Jacob Coxey) to secure another public issue of $500 million of paper money and to obtain employment. Baum's plot has Dorothy and her companions exposing the fraud of evil wizards and witches, representing bankers and politicians, and establishing a new monetary order based on gold and silver. Dorothy returns to Kansas City courtesy of her magic silver slippers. In the film, Dorothy's slippers are red rather than silver, a concession to Hollywood cinematogoraphy."