American History Part 2: Unit 1 Lecture 1 Populism Unites Farmers

Farmers Face Problems Late 1800’s Western farmers in trouble: Rising debt Falling crop prices Overcharging by railroads Weather problems Farmers seek financial relief – had borrowed from banks when “greenbacks” were in circulation – now being forced to repay loans in gold-backed money.

The Grange 1867, farmers create organization known as Patrons of Husbandry or THE GRANGE Starts as social organization – becomes political Begins discussing farmers perceived abuses by Eastern railroads and banks The Grange warning farmers that they are being “run over” by RR’s and Eastern banks

Populist Movement Populism – political movement that grew out of Granger organization Protested railroad abuses such as unfair pricing and rebates for big business OMAHA PLATFORM: Increase money supply Graduated income tax Secret Ballot Federal Loans for farmers 8 hour workday

Economic Crisis Panic of 1893 – Banks collapse, 20% unemployment Farmers (and others) suffer, Democrats and Republicans battle over how to fix issues Election of 1896 – Key issue: Currency – Republicans: Support of Northern business and industry, favor GOLD STANDARD Democrats and Populists: Support of Southern and Western farmers, favor BI-METALLISM (Silver and gold backed currency) AKA “Free Silver”

The Cross of Gold Nebraska politician William Jennings Bryan gives famous “Cross of Gold Speech”, advocating money backed by both Silver and Gold Democrats so impressed, choose him to run for President 1896 – William Jennings Bryan (Dem./Pop) vs. William McKinley (Republican)

End of Populism McKinley wins the election Populist Movement dies, but leaves lasting legacies: Demonstrates that downtrodden can organize politically and make a difference Ideas for reform will be carried out in 20th century