13. In 1893, the Cleveland administration's repeal of the Sherman Silver Purchase Act
A. caused the value of currency to contract.
B. brought immediate relief to people suffering under the 1893 depression.
C. had no long-term possibility of reviving the depressed economy.
D. empowered conservative Democrats.
I am stuck?
I am sure of A but ?
The answer certainly isn't B or C. D is probably not right, either. However, I don't see a good explanation in either of these two good articles.
http://en.wikipedia.org/wiki/Sherman_Silver_Purchase_Act
https://waltercoffey.wordpress.com/tag/repeal-of-the-sherman-silver-purchase-act/
What does your book say?
I don't have this in my book :(
To answer this question, we need to analyze the effects of the Cleveland administration's repeal of the Sherman Silver Purchase Act in 1893. This act required the federal government to purchase a certain amount of silver each month, which had the effect of expanding the money supply and supporting silver prices.
Option A states that the repeal caused the value of currency to contract. To evaluate this option, we need to understand the impact of the repeal on the money supply and currency value. The repeal of the act meant that less silver would be purchased by the government, leading to a reduction in the money supply. With a reduced money supply, the value of currency is likely to increase, not contract. So, option A can be eliminated.
Option B suggests that the repeal brought immediate relief to people suffering under the 1893 depression. To determine whether this option is correct, we need to consider the causes and effects of the depression. The 1893 depression was a severe economic downturn characterized by bank failures, high unemployment, and a decline in industrial production. Repealing the Sherman Silver Purchase Act would not have directly addressed these issues or provided immediate relief to those suffering from the depression. Therefore, option B is also unlikely to be the correct answer.
Option C states that the repeal had no long-term possibility of reviving the depressed economy. This option suggests that the repeal did not have any potential to improve the depressed economy in the long run. To evaluate this option, we need to consider the economic consequences of the repeal. The repeal of the act was seen as a move toward stabilizing the currency and restoring economic confidence. However, it did not completely resolve the underlying issues contributing to the depression, such as unemployment or bank failures. Therefore, option C is a possible answer.
Option D suggests that the repeal empowered conservative Democrats. To determine if this option is correct, we need to consider the political implications of the repeal. The debate over the Sherman Silver Purchase Act was largely divided along party lines, with conservative Democrats opposing the act. The repeal of the act may have given conservative Democrats more power or influence within the party. Therefore, option D is also a potential answer.
Based on the analysis, options A and B can be eliminated. Options C and D are both plausible answers, but we would need to consider additional historical context or consult specific sources to determine the most accurate choice.