Populist Party

Grange Grange (1867) – organization (created by Oliver Kelly) of farmers that banded together to fight rising Freight costs

Munn v. Illinois 1877 Supreme court declared private property could be regulated by state/federal government when such regulations would benefit the public good *Regulate the railroads helps farmers

Farmers Alliance Farmers' Alliances –formed after Grange looses support. Continues to work to support farmers

Interstate Commerce Act 1887 Law that was designed to regulate the railroad industry Required that railroad rates be "reasonable and just," did not empower the government to fix specific rates. *failed to stop the Monopolies * Fixed by Hepburn Act (1906)

Beginning of the People’s Party Farmers Alliance needed more support in Washington Formed the Populist Party to fight for Farmers rights in 1892

Omaha Platform Goals of Populist party: government ownership of transportation Increase in the money supply Progressive Income Tax- more money you make, more you pay Paper currency Direct elections of senators Eight hour workday

Panic of 1893 Worst Economic depression up to that date in American History Started due to: -Railroad Failure from quick expansion and no ability to pay loans -Wall street crash

Gold Standard v. Bimetallism Two views on money Gold Standard- Paper Money would be backed by Gold - Bimetallism- Gold and Silver would be used as money

William Jennings Bryan Populist leader, Gave speech before election -“Cross of Gold Speech” Bryan states need for bimetallism and the dangers of the Gold Standard

Election of 1896 Republican William McKinley Wanted Gold Standard Versus William J. Bryan -wanted bimetallism McKinley wins but Bryan influences future populist reforms