The Wizard of Oz and Gold and Silver

The Wizard of Oz and the Gold Standard

There are many well-established theories that suggest The Wizard of Oz is more than just a wildly imagined piece of fiction. Many believe that it’s actually an allegory with a variety of interesting and hidden political meanings. How did gold play into the original book?

Well, let’s just say that the potential meaning of Oz (ounce?) might surprise you and, well, it’s no coincidence that Dorothy followed that ‘yellow’ brick road wearing silver slippers (changed to ruby slippers in the movie). 

The Wizard of Oz and Gold and Silver

According to an article written in 1964 by Henry Littlefield, The Wizard of Oz was a commentary about the ‘ongoing debates over the gold-standard monetary policy of the times’. The yellow brick road serves as a direct metaphor to the creation of the gold standard. Seems like an interesting theory but it doesn’t stop there. 

In the original book, published in 1900 by L. Frank Baum, Dorothy’s silver slippers save the day. In 1990, the theory is further pressed by Rutgers University Professor Hugh Rockoff, who suggested that the cyclone that carried Dorothy to Oz is representative of economic and political upheaval. Yep, that allegory actually makes a lot of sense. 

Dorothy apparently stands as the ‘every American’ caught up in the upheaval of this political and economic cyclone. In order to find her way home, Dorothy must then follow that golden road wearing her ‘silver slippers’ to meet with the wizard who, theory suggests, is President William McKinley. However, she’s not alone. 

It is now suggested that the Tin Man represents the industrial workers of the time, that the Scarecrow represents the western farmers and the Cowardly Lion is, perhaps, William Jennings Bryan and, believe it or not, Toto is a metaphor for the Prohibitionist party. 

The list goes on and on and it’s all rather impressive. The idea here is that The Wizard of Oz is all about the political eruption of the gold standard and the Coinage Act of 1873 which demonetized silver, causing a panic that resulted in a severe economic depression in the mid-1890s.

The Wizard of Oz Allegory

It’s a lot to take in, but we love how so many have embraced this theory and expanded upon it. The Wizard of Oz allegory really puts gold and silver in a new and entertaining light and while it’s merely all theory, the suggestion that gold and silver work together to save Dorothy’s future does read as a worthy and clearly applicable lesson in life. 

So, maybe it’s time to take a closer look at your Emerald City (our allegory for your investment portfolio). If you don’t see a shine of gold and silver yet then perhaps it’s time to follow that yellow brick road and give your silver slippers a click.

Back to "Bullion Academy"