They are the first to feel its bad effects and the last to recover from them?It is mere pretense to attribute the hard times to the fact that all our currency is on gold basis ...It would not make farming less laborious or more profitable (Doc B)." The railroads were trying to stay in business, and saw raising the rates as the only way to accomplish that...
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The railway was perhaps one the most influential components in America's growth, especially economically. They are influenced by different considerations. McKinley stated that "Debasement of the currency means destruction of values. The new rate ate up every cent of his gains. " Farmers were correct in arguing that the United States' money supply was not what it should be; over 30 years the population nearly double while the money circulation rose by only 60 %( Doc C...
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