What Was a Consequence of the Discovery of New Silver

question 44

Multiple Choice

What was a consequence of the discovery of new silver mines in the West in the late nineteenth century?

• A) The price of silver increased to a level equal to the price of gold.
• B) The United States Treasury increased its production of silver coins, causing severe inflation.
• C) The price of silver on the open market dropped, making it more profitable for silver producers to sell silver to the government at the old sixteen-to-one ratio.
• D) Silver producers refused to sell silver to the government, which in turn ceased minting silver coins.

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