Farmers and the Populist Movement Ch. 13 – Sect. 3

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Farmers and the Populist Movement Ch. 13 – Sect. 3 Mitten – CSHS AMAZ History Semester 1

Farmers Unite Economic Distress Farmers buy more land to grow more crops to pay off debts After Civil War, government takes greenbacks out of circulation 1870’s, debtors push government to put more money into circulation 1878 Bland-Allison Act – money supply increase not enough for farmers

Farmers Unite Problems with the Railroads The Farmers’ Alliance Lack of competition lets railroads overcharge to transport grain Farms mortgaged to buy supplies; suppliers charge high interest The Farmers’ Alliance 1867, Oliver Hudson Kelley starts Patrons of Husbandry or Grange purpose is educational, social; by 1870’s, Grange is fighting railroads Farmers’ Alliances – groups of farmers and sympathizers lectures on interest rates, government control of railroads, banks gain over 4 million members

Rise and Fall of Populism The Populist Party Platform Populism – movement of the people; Populist Party wants reform Economic: increase money supply, graduated income tax, federal loans Political: Senate elected by popular vote; secret ballot; 8-hour day 1892, Populist candidates elected at different levels of government Democratic Party eventually adopts platform

Rise and Fall of Populism Silver or Gold Political divisions also regional: Republicans: Northeast business owners Democrats: Southern, Western farmers, laborers Bimetallism – system of using both silver and gold to back currency Gold Standard – backing currency with gold only Paper money considered worthless if cannot be exchanged for metal Silverites: bimetalism would create more money, stimulate economy Gold bugs: gold only would create more stable, if expensive currency

Rise and Fall of Populism Bryan and the “Cross of Gold” 1896, Republicans commit to gold standard, select William McKinley for president Democrats favor bimetallism, choose William Jennings Bryan The End of Populism McKinley elected president; Populism collapses; leaves legacy: the powerless can organize, have political impact agenda of reforms enacted in 20th century