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What does this movie have to do with American farmers in the late 1800s? Keep paying attention and see if you can figure it out…

Farmer’s Problems -weather problems Drought and storms cause crops to fail – lose money -falling prices -increasing debt Farmers cannot pay for loans; banks foreclosing -dependant upon railroads Railroads over-charging farmers; no stopping -need for cheaper money deflation and inflation “What you farmers need to do is raise less corn and more hell!” ~Mary Elizabeth Lease

Railroad Abuses -construction graft Railroads making secret deals -bribes RR agents take money to allow for cheap shipment -stock watering Livestock drink water to make weight increase -unfair pricing long haul: cheaper short haul: more expensive -use of rebates for large customers (get money back) “There are three great crops raised in Nebraska. One is a crop of corn, one is a crop of freight rates, and one is a crop of interest. One is produced by farmers who sweat and toil the land. The other two are produced by men who sit in their offices…and farm the farmers.” ~ Nebraska Newspaper Editorial

The Grange -also called the Patrons of Husbandry -began as social group that evolved into political group -called for regulation of railroads -“Granger Laws”- mid-western state laws that regulated railroad abuses - Granger laws ruled unconstitutional in Wabash v. Illinois, ICC- Interstate Commerce Act -Federal law regulates commerce -Grangers push for currency reform: Want to increase amount of money in circulation (gold and silver) “We believe that the time has come when the railroad corporations will either own the people or the people must own the railroads.” ~Omaha Platform, 1892

Populism – People’s Party -took the place of the Grange Influenced Democrats -strong mid-west support -reform based party Want changes -Omaha Platform, 1892 increase $ supply: gold AND silver money income tax (graduated) secret ballots 8 hour workday Immigration control “That we oppose any subsidy or national aid to any private corporation for any purpose.” ~Omaha Platform, 1892

What Exactly Do The Populists Want? 1.Coin Gold and Silver  Increase the Money Supply 2.Increase the Money Supply  Inflation (Prices Go Up) 3.Inflation  Borrowers (Farmers) Are Better Off; Lenders (Banks) are Worse Off

Here Are Examples from Today: INFLATION: I have one candy bar. What are you willing to pay me for it? I have many candy bars. What are you willing to pay for one? This is like the value of your dollar. The more dollars you have, the less they are worth.

Here Are Examples from Today: HOW INFLATION HELPS AND HURTS: One side of the room are borrowers and one side are lenders. The borrowers have 4 coins and the lenders have 6. If a candy bar costs one coin, figure out how many you can buy. Now, lenders need to give two coins to a borrower. In one year they will pay you back the coins they borrowed, plus one. A year has passed and the money supply has increased, meaning prices have gone up. It now costs 3 coins to buy a candy bar. The borrower pays back the lender his two coins, plus one. Now, everyone calculate how many candy bars you can buy. How did borrowers turn out? How did lenders turn out? As a lender, what is your dilemma?

Free Silver Crusade -Panic of 1893 Farmers in deep debt -nation enters a recession -many promote silver and gold standard for currency (bimetallism) -would create larger money supply -”greenbacks” issued based on silver and gold bullion reserves -Gold standard only would limit money supply as gold reserves were limited: everyone would have less money, but each dollar worth more Populists promoted “free silver,” in which money would be backed by gold and silver rather than gold alone. This would increase the money supply and lead to inflation, the rise of prices, which would allow them to charge more for their farm products. However, each dollar would be worth less than if backed by gold alone.

End of the Populists election -William McKinley-Rep. Gold Standard Using only gold to back all money (worth more) -William Jennings Bryan-Dem./Pop. Free Silver/bimetallism “Cross of Gold Speech” -McKinley wins election People fear inflation and not being able to afford goods and services -Populism dies William Jennings Bryan delivering the “Cross of Gold” speech in Omaha

“We reply that the great cities rest upon our broad and fertile prairies. Burn down your cities and leave our farms, and your cities will spring up again as if by magic; destroy our farms and the grass will grow in the streets of every city in the country…” “Having behind us the producing mass of this nation…we answer their demand for a gold standard by saying to them: You shall not press down upon the brow of labor this crown of thorns, you shall not crucify man upon a cross of Gold.” William Jennings Bryan, Democratic Convention Speech, 1896

What distinction do you notice in the votes cast in 1896? Which sections of the country voted for which party?

William Jennings Bryan standing outside the White House after losing the Presidential election to William McKinley. Although he won many votes, Populism eventually dies out.

Symbolism of the Wizard of Oz Dorothy: Tornado: Land of Oz: Wicked Witch of East: Wicked Witch of West: Munchkins: Yellow Brick Road: Scarecrow: Tin Man: Lion: Winged Monkeys: Emerald City: Wizard of Oz: Slippers: