Do Now 8-23 What was the Sherman Silver Purchasing Act? What was the Interstate Commerce Act? Who won the 1896 election? Who won the 1892 election? Riddle: Two men are in a desert. One is alive, and one is dead.They both have packs on. One has his pack open, and the other doesn’t. What is the pack?

Populism The People’s Party?

Agrarian Discontent and Radicalism 1865-1900 Revolt of the Rednecks Agrarian Discontent and Radicalism 1865-1900

ECONOMIC DISTRESS HITS FARMERS Between 1867 and 1887 the price of a bushel of wheat fell from $2.00 to 68 cents Railroads conspired to keep transport costs artificially high Farmers got caught in a cycle of debt

Granger Movement 1867 Oliver Kelley and Patrons of Husbandry aka Granger Movement Social Organization Some of first farm co-op’s; buy & sell collectively

By 1870, the Grange spent most of their time fighting the railroads Petitioned for State RR Rate Regulation Midwestern States enacted so called Granger laws: Munn v. Illinois (1881) Then reversed in Wabash (1886) Decision Led to ICC(1887) Granger Movement

Farmers’ Alliances –Charles W. McCune Northern Alliance mostly a lobby/political organization public ownership of railroads, tax reform, and printing money Southern Alliance in addition to its political interests acted as a social organization; more radical advocated subsidies Colored Alliance – established because African Americans had been banned from the Southern Alliance

1890 Farmer’s Alliances National Convention (Ocala) Ocala Platform Dared Either party to enact it Threatened to form a Third party “It’s not a revolt, it’s a revolution!”

Ocala Demands abolition of national banks. sub-treasury scheme [HEART of POPULISM] $50 per capita in circulation and the free and unlimited coinage of silver. lower tariff graduated tax on incomes state and national government regulation of the means of public communication and transportation, and if this control and supervision does not remove the abuse now existing, we demand the government ownership of such means of communication and transportation. an amendment to the Constitution providing for the election of United States Senators by direct vote of the people of each state.

1890 Congressional Elections Some Alliance men elected and introduced Ocala Demands “Sockless” Jerry Simpson- KN Tom Watson -GA

“Farmers should raise less corn and more hell.” People’s (Populist) Party- formed to relieve economic pressure on agriculture, but also to restore democracy by eliminating what the Populists saw as the corrupt and corrupting alliance between business and government. Platform: Omaha 1892 SUBTREASURY SCHEME Support Labor Unions Wealth belongs to those who make it Government ownership of Railroads, telephone and telegraph. Free Silver Graduated Income Tax Secret Ballot Shorten work hours. Initiative and Referendum Direct election of Senators Restriction of Immigration “Farmers should raise less corn and more hell.” Mary Elizabeth Lease

James B. Weaver Former Union General Former Greenback-Labor Candidate VP Ex-Confederate General James Field

Race and Populism Farmers nationwide are “all in the same ditch” regardless of race Liberal minded reformers like Tom Watson urged unified efforts at reforming the system.

Political Impact The Populists made a strong showing in 1892 & a significant splash in state and local governments during the mid term elections of 1894, their made them a force to be reckoned with in 1896 Controlled several state governments in Colorado and Kansas Southern Populists “counted out”

Panic of 1893 & Cleveland’s Conservatism Treatment of Coxey’s Army Opposition to Income Tax Gold Bond Sales and JP Morgan Alienated Agrarian Democrats by stubborn attachment to Gold Standard

The Money Question Inflation or Deflation? Business owners and bankers (creditors) of the Northeast were Republicans Farmers and laborers (debtors) of the agrarian South and West were Democrats and Republicans

What metal the nation’s currency system should be based on Bimetallism – A monetary system in which the government would give citizens either gold or silver in exchange for paper currency Because silver was more plentiful than gold, backing currency with both metals would make more currency available (Inflation) Gold Standard – Economic policy in which dollars would be backed solely with gold Retaining the gold standard would provide a more stable, but expensive, currency (deflation)

William Jennings Bryan: Free Silver Took Over DP

Who Swallows Who?

Democratic Duplicity? “Free and Unlimited Coinage of Silver at 16:1” Lower Tariff Income tax Kept their VP Arthur Sewall, industrialist & banker No Subtreasury

Soured Populism Hopes of Racial Co-operation Destroyed Southern Agrarians returned to the Democratic Party Scapegoated Blacks and became virulent racist demagogues

Republican William McKinley Friend of Business McKinley Tariff Campaign Manager Marcus Hanna “Goldbug Platform”