The Populist Movement Essential Concept of this lecture: Farmers had massive problems after 1865, including debt and other failures. They join together to fix their issues, using the political system as their weapon. The Populist Party movement is that story!

Changing Times for Farmers After 1865… Mechanization of farming equipment: newer technologies leads to more expensive equipment, farmers take out loans to buy these new items  debt! Price gouging of grain, seed and other needs: “big businesses” could prey on the desperation of farmers, over-charging them  debt! More land usage in the West: more loans  debt! Weather issues/crop failures  debt! Monopolies and unfair business practices of railroads, telegraphs and grain storage: more big business taking Advantage of the fact that these farmers had very Little choice in where/who to shop with…lack of competition Economic depression (gold standard): all paper money (money supply) was backed by equal amounts of gold in this time. Farmers believed increasing the money supply would solve their issues Underconsumption of agriculture lead to a surplus (too much product)

Farmer’s Problems Debt – Most of these issues led to increased farmer’s debt, often they mortgaged their farms to make ends meet when farm prices fell. Drought periods also worsened their situation.

Working Together… Alliances: organizations of farmers working to solve their problems Co-ops: alliances of farmers that bought grain, equipment, etc in bulk, for lower prices The Grange: first political organization of farmers that worked to make change for its members

The Grange accomplishments Munn v. Illinois (1877) First state supreme court case that ruled state governments COULD regulate railroad prices charged to farmers, granger laws WERE constitutional Interstate Commerce Commission Government agency that regulated telegraph, grain and railroad rates…eventually other industries that operated “for the public good” Winning local and state political elections by candidate under a new political party called The Populist Party

The Populist Party By 1892 the economic troubles of farmers had become widely known. Industrial laborers experienced similar struggles and a nationwide political movement began to emerge. This political uprising of common Americans became known as Populism and it led to the creation of the Populist Party. The party was made of Western and Southeastern farmers and Northeastern and Midwestern industrial workers. The parties candidates began to win state and local elections and soon candidates started running for national offices (Congress).

The Populist Party Platform Government regulation of the “public good” (businesses that SHOULD operate “for the people”, not for profit) Increase the money supply Bimetallism: adding silver into the money supply, hoping to increase it (campaign slogan was “free silver!”) 8 hour work day Federal income tax: with more money into the federal govt, more regulation and services for farmers would result

Election of 1896 William Jennings Bryan (D) vs William McKinley (R) Bryan runs as a Democrat, a more popular party, but pushes and speaks “for the common man”, the farmer in this case “Cross of Gold” speech: his most famous speech, comparing the gold standard as the thing that is “crushing” the poor in debt farmer, religious undertones

“Gold Standard” Businesses wanted to keep U.S. on the gold standard which would keep the value of the dollar high. Loans would be repaid in stable money. This would lead to less money in circulation and deflation (falling prices). Fewer people would have money and the wealth of those that did (bankers and businessmen) would increase.

“Silverites” Farmers and Laborers. Bimetallism – silver and gold coinage. This would decrease the value of the dollar and prices for farm goods would rise. Rally cry of “free silver”, meant free the silver from the mines and add it to the money supply. Farmers profits would increase and they could pay back loans with dollars that were actually equal in value to the dollars they had originally borrowed before greenbacks were taken out of circulation. Wealth would be more evenly distributed across all tiers of society.

William Jennings Bryan Former Nebraska Congressman and editor of the Omaha World-Herald newspaper. Considered the patron saint of lost causes due to the fact that he let his beliefs, not politics, guide his actions. Bryan was a Democrat and won the parties nomination for president in 1896. Bryan’s stance on the gold coinage issue led the Populist Party to nominate him as their candidate as well.

“Cross of Gold” Speech “Having behind us the producing masses of this nation and the world, supported by the commercial interests, the laboring interests, and the toilers everywhere, we will 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 mankind upon a cross of gold.” William Jennings Bryan, Democratic Convention speech, Chicago, July 8, 1896.

William McKinley Former Congressman and Governor of Ohio. Civil War veteran. Republican nominee for president in 1896. Supporter of the gold standard. Very popular within the Republican Party and in his home state of Ohio. Also popular in Washington D.C. Had millions of dollars in his campaign fund.

Election of 1896

Election of 1896

The End of Populism? The election of 1896 did spell the end of the Populist Party but not necessarily the end of the idea of populism. Two important legacies were left by the Populists. A message that even the common man could organize and have a political impact. An agenda of reforms (the Populist Party platform) that would become part of the political debate in the United States. Many of these reforms would be put into law in the 20th century.