Information:

Before 1890's USA was using both silver and gold as reserves, paying a mix of two metals for every dollar as federal government. In 1890's in a popular election the candidate McKinley defended to turn the system to pure gold standard. Note turning to pure gold standard would decrease base money (as value of gold reserves is less then value of gold and silver reserves together), which will decrease the money supply and cause deflation. Even though there was a big opposition from rural areas of the USA, McKinley became president, and did what he promised, and results were as expected.

My question is the following:

Why there might have been a big opposition from rural area. By noting that rural areas were mostly occupied by small farmers heavily indebted to the banks.And, can you please show on two different graphs how getting into pure gold standard should have affected the financial market and the overall economy, using money demand/supply model, and AD/AS model.

Thanks A lot! Best regards :) Stay safe