Populism Changes on the Farm

Why had farming become unprofitable during this period? Why did farmers support bimetalism?

3. What economic reforms did the People’s Party want. 4 3. What economic reforms did the People’s Party want? 4. What political reforms did the part want?

5. What factions did Bryan & the Populists see as opposing forces in the Presidential Election of 1896? 6. In what ways did the results of the 1896 election confirm this view?

Farmers Farmers have real problems Debt- they barrowed money for new machines but they don’t make enough to pay loans back Drought and weather conditions ruin crops Crop prices fall because there are so many farmers = more crops = low prices

Farm Friendly Legislation Texas seed bill- helps farmers in tough economic times Interstate commerce Act- Regulates trade between states. (forces railways to act in a more uniform way) Farmers feel they are ripping off the public

New groups Farmers begin to form new groups to fight for new laws and find solutions to their problems.

The Grange Grange a.k.a. Patrons of Husbandry Oliver H. Kelley Became a political organization to fight the unfair treatment of farmers by railroads.

Farmers’ Alliance Members were farmers and those that sympathized with the farmers cause. Sent lecturers to educate people about the issues Mary Elizabeth Lease “Raise Less Corn and More Hell”

Different Groups Representing Farmers’ Interests 1867: The Patrons of Husbandry (The Grange) 1880s: Farmers’ Alliance and Colored Farmers’ National Alliance 1892: Birth of the Populist, or People’s Party

The Populist Movement Populism – the movement of the people Populist Party (a.k.a. People’s Party) was founded in 1892 Members Farmers Workers Those who sympathize with worker’s and farmer’s causes Was not segregated!!!!!!!!!!!!!!

Populist Platform Economic Reform 1. Increase in money supply 2. Graduated Income Tax 3. Federal Loan Program Governmental Reform 4. Direct Election of U.S. Senators 5. Single Terms for President and V.P. 6. Secret Ballot Labor Reform 7. Eight hour work day 8. Limits on Immigration

1892 Presidential Election: Populist Candidate won over a million votes!

Panic of 1893 Country falls into a depression 500 banks close 18% of workforce unemployed There is about $23 in circulation per American This leads to a big question- paper, gold or silver?

Economic Crisis Greenbacks – Paper money issued during the Civil War that could not be exchanged for hard currency (silver or gold). Government began to retire greenbacks which caused the value of the money in circulation to increase. Significance: Farmers were paying back their loans with money that was worth more than the dollars they had borrowed.

Competing Monetary Philosophies Gold standard- money is backed by gold in the federal reserve. Causes deflation so each dollar is worth more but there are fewer dollars. Favored by businesses and the rich Free silver- favored coining as much silver money as possible causes inflation so each dollar is worth less but there are more dollars. Favored by farmers and poorer Americans (populists)

Silver or Gold Central issue of the Election of 1896 was which metal would be the basis of the nation’s monetary system. Gold Bugs Silverites Who Bankers and Business Owners Farmers & Laborers Party Republican Democrat & Populist What Gold standard Less money in circulation Bimetallism More money in circulation Why Loans would be repaid with stable money Products would be sold at higher prices

Election of 1896 William McKinley – Republican William Jennings Bryan – Democrat Cross of Gold Speech Bryan selected as the Populist Party Candidate as well. McKinley’s election caused the collapse of the Populism Party.

1896 Presidential Election: Bryan loses but carries most of the South and West

Cross of Gold http://www.youtube.com/watch?v=3IjDQzCg5Rs

Farming Becomes a Business http://www.hippocampus.org/US%20History%20II

The Wizard of OZ http://www.youtube.com/watch?v=D6BCf_b8GfE