Farmers and the Populist Movement

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Farmers and Populism Ms. Eraqi.

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Presentation transcript:

Farmers and the Populist Movement #34 Chapter 5 Section 3 Farmers and the Populist Movement OBJECTIVE: Understand how farmers organized and fought to improve their conditions.

I. Farmers Unite to Address Common Problems Economic Distress Prices of crops falls dramatically due to lack of consumer demand. 1870s, debtors push government to put more money in circulation.

Problems with the Railroads Lack of competition lets railroads overcharge to transport grain. Farms mortgaged to buy supplies; suppliers charge high interest.

The Farmers’ Alliances Farmers’ Alliances--- groups of farmers and sympathizers Lectures on interest rates, government control of railroads & banks.

II. The Rise and Fall of Populism The Populist Party Platform Populism --- movement of the people; Populist Party wants reforms: Economic: increase money supply, graduated income tax, federal loans. Political: Senate elected by popular vote; secret ballot; 8-hour day, and a single term for Presidents. Democratic Party eventually adopts platform.

The Panic of 1893 Railroads expand faster than markets; some go bankrupt. Government’s gold supply depleted. Businesses, banks collapse Panic becomes depression.

Silver or Gold? Bimetallism- a monetary system in which the government would give citizens either gold or silver in exchange for paper currency or checks. Republicans: Northeast business owners, bankers = Gold Bugs (Gold Only) Democrats: Southern, Western farmers, laborers = Silverites (Gold and Silver)

1896, Republicans commit to gold, select William McKinley. Democrats favor bimetallism. Democrats chose William Jennings Bryan. Populist endorse Bryan for President.

The End of Populism McKinley gets East, Industrial Midwest support; Bryan gets South, farm Midwest support. William McKinley elected President. Populism collapses; leaves legacy: The powerless can organize, have political impact. Agenda of reforms enacted in 20th century.

Short Answer Question: Closing Short Answer Question: Explain the rise and fall of the Populist Party in 2-3 sentences