In the late 1890s, many Democrats, Populists and Western-state Republicans, campaigned for the unlimited coinage of silver at a 16 to 1 ratio -- 16 ounces of silver to 1 ounce of gold. Proponents believed that this policy would inflate prices, make money readily available, relieve debt and boost a depressed economy. William Jennings Bryan used this popular catchphrase in both his campaigns against William McKinley. He lost.