The 5 1/2-year depression following the Panic of 1873 caused cheap-money advocates (led by Representative Richard P. Bland, a Democrat of Missouri), to join with silver-producing interests in urging a return to bimetallism, the use of both silver and gold as a standard.

[3] President Rutherford B. Hayes, who held interests in industrials and banking, vetoed the measure, which was overturned by Congress.

The free-silver movement of the late 19th century advocated the unlimited coinage of silver, which would have resulted in inflationary monetary policy.

In 1873, Congress had removed the use of silver dollar from the list of authorized coins under the Coinage Act of 1873 (referred to by opponents as 'the Crime of '73'").

Although the free silver movement ended, the debate of inflation and monetary policy continues to this day.

[3] In addition, there was a need for money supply to increase as the credit system expanded and large banks established themselves across states.