Seriously.
From 1790s to 1861, the price of 1 ounce of silver was US$ 1.30. By definition. Of the US dollar.
During Civil War, because of greenback inflation, it rose to US$ 3.
And afterwards dropped... below US$ 1.30 in 1873.
Falling as low as US$ 0.25 in 1920s.
Then climbing back past US$ 1.30 in 1960s.
Now suppose that Cross of Gold Bryan wins in 1896.
Meaning the price of silver stays fixed at US$ 1.30 per ounce in 20th century.
Development of silver halide crystals is an unusual chemical process. Despite searches, the first viable alternative was spread of digital photography in 1990s or so.
Suppose that due to Bryan victory silver price remains at 5 times its OTL level.
There would still be photography. And technical innovation of moving pictures.
But with silver being expensive, because money, would it be the cheap mass entertainment it was OTL?
From 1790s to 1861, the price of 1 ounce of silver was US$ 1.30. By definition. Of the US dollar.
During Civil War, because of greenback inflation, it rose to US$ 3.
And afterwards dropped... below US$ 1.30 in 1873.
Falling as low as US$ 0.25 in 1920s.
Then climbing back past US$ 1.30 in 1960s.
Now suppose that Cross of Gold Bryan wins in 1896.
Meaning the price of silver stays fixed at US$ 1.30 per ounce in 20th century.
Development of silver halide crystals is an unusual chemical process. Despite searches, the first viable alternative was spread of digital photography in 1990s or so.
Suppose that due to Bryan victory silver price remains at 5 times its OTL level.
There would still be photography. And technical innovation of moving pictures.
But with silver being expensive, because money, would it be the cheap mass entertainment it was OTL?