When the group of Dorothy, Toto, Scarecrow, Tin Man, and the Cowardly Lion finally reach the Emerald City of Oz, they meet the underwhelming Wizard of Oz. Through this Wizard, Baum displays the wickedness of politics and reveals his own thoughts about which standard American currency should follow.
Much like a manipulative politician, before agreeing to the favors Dorothy and company ask for, the Wizard requires something of them in return. This scene begins to reveal what Frank L Baum believed to be the answer to American monetary problems in the 1900’s. His characters did not find the solutions to their problems on the yellow brick road (gold standard) so they must leave it. To defeat the witch, Baum sends Dorothy on her own path, a path which is trod upon by her own silver slippers. With her own determination and her silver slippers, Dorothy manages to melt the Wicked Witch of the West.
The greatest evidence of the supremacy Baum believed silver possessed over gold, comes from when Dorothy is finally sent back home. Glinda the good witch informs Dorothy that the solution to all of her problems is already in her possession. This most powerful imagery from Baum proclaims that the American people need not over complicate the situation. The solution to the problem is simple and obvious, America must switch to a silver backed currency instead of the gold standard.
When Dorothy (the common American) finally realizes the power of silver, they achieve all they desire. Baum uses all of his symbolism and fantastical story elements to attempt to change the American view point. His success is limited. Modern American currency has neither a gold or silver standard; however, through his political and economic allegory, Baum wrote one of the most beloved fairy tales of all time. What started out as a political commentary has become a true staple of American storytelling and cinema.
American Cultural Icons 