Wizard of Oz and Bimetalism
Baum did not offer any conclusive proof that he intended his novel to be a political allegory. Historian Ranjit S. Dighe wrote that for 60 years after the book's publication, "virtually nobody" had such an interpretation until Henry Littlefield, a high-school teacher.[34] In his 1964 American Quarterly article, "The Wizard of Oz: Parable on Populism",[35] Littlefield posited that the book contained an allegory of the late 19th-century bimetallism debate regarding monetary policy.[36]
Littlefield's thesis achieved some support, but has been strenuously attacked by others.[37][38][39]
https://en.wikipedia.org/wiki/Bimetallism
As with the Greenbackers, one of the main constituencies for the movement was debtors: particularly, Midwestern families such as Dorothyās, who had been facing a massive wave of foreclosures during the severe recessionĀ of the 1890s. According to the Populist reading, the Wicked Witches of the East and West represent the East and West Coast bankers (promoters of and benefactors from the tight money supply), the scarecrow represented the farmers (who didnāt have the brains to avoid the debt trap), the Tin Woodsman was the industrial proletariatĀ (who didnāt have the heart to act in solidarity with the farmers), The cowardly lion represented the political class (who didnāt have the courage to intervene). The yellow brick road, silver slippers, emerald city, and hapless Wizard presumably speak fro themselves.Ā āOzā is of course the standard abbreviation forĀ āounceā.Ā
https://www.shsu.edu/his_rtc/2014_FALL/Wizard_of_Oz_Littlefield.pdf
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