Currency of Colombia and South América Bank" was established in 1864 and was granted the right of issue in 1865. Silver coin of the 1863 standard .666 fine .900 fine Silver coin of the modified 1867 standard .666 fine .835 fine Gold coin .900 fine dated 1862–1878 Peso = 100 Centavos The monetary law of 9 June 1871 put the currency on the silver standard of the Latin Monetary Union system, the Colombian peso of 22.500 g fine silver being equal to 5 francs. It prohibited minting of coin .666 fine. Medios and cuartillos were to be minted .835 fine and the half
Free silver standard which had been the hallmark of the Cleveland administration to the free-silver position epitomized by 1896 presidential nominee William Jennings Bryan in his Cross of Gold speech. Bryan's 1896 candidacy was supported by Populists and "silver Republicans" as well as by most Democrats. The issue was over what would back the US currency. The two options were: "gold" (wanted by the Goldbugs and William McKinley) and "silver" (wanted by the Silverites and Bryan). Unbacked "paper" (wanted by the Greenbacks) represented a third option. A fourth option, currency backed by "land value", was advocated by Senator Leland Stanford through several