A pivotal speech delivered by William Jennings Bryan at the 1896 Democratic National Convention, the address championed bimetallism, a monetary policy advocating for the free and unlimited coinage of silver in addition to gold. This stance directly opposed the gold standard, which proponents believed caused economic hardship for farmers and laborers due to deflation and limited money supply. The phrase originated from a passionate declaration that the American people should not be crucified “upon a cross of gold,” symbolizing the perceived oppressive nature of the gold standard.
The address served as a powerful articulation of populist sentiment during a period of significant economic distress. Its significance lies in its ability to galvanize support for bimetallism and the Democratic Party, albeit ultimately unsuccessfully in the presidential election. The speech showcased the deep divisions within American society regarding economic policy and the role of government in regulating currency. Furthermore, it highlights the enduring debate concerning the balance between the interests of different social classes and the impact of monetary policy on economic prosperity.