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Hence, this strong pressure from developed countries persuaded the United States to adopt the gold standard. Countries such as Great Britain, who at the time was the leader in the global market, led the developed world on to the gold standard. Such initiative pushed the United States to join the club in 1879 (Frieden 6)...
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From the beginning of its implementation in the late 1870s, the gold standard divided the American people into two major groups: the farmers and the industrialists (which included capitalists, bankers, professionals, etc.). On one hand, farmers rejected the gold standard because they directly linked the deflation of agricultural prices to such policy and they sought to set the dollar to other metals such as silver, or even a bimetallic standard consisting of silver and gold...
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