HOW PEOPLE RESPONDED TO BIG BUSINESS

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Presentation transcript:

HOW PEOPLE RESPONDED TO BIG BUSINESS THE RISE OF THE POPULIST PARTY

REGULATION OF BIG BUSINESS Sherman Anti-Trust Act Somewhat ineffective – courts couldn’t always enforce it Interstate Commerce Act Gave Congress the right to regulate railroads A state could not set rates on interstate commerce – they couldn’t charge prices for railroads coming in to their state from another state

Opposition to big business In the West: The Grange In the East: Labor Unions POPULIST PARTY

POPULIST PARTY

Rise of the populist party (1891) Major platforms: Government ownership of railroads and telegraph networks 8 hour work day for industry Restrictions on immigration Individually or with a partner, determine WHY each of these issues would be appealing to people in 1891.

MAJOR PLATFORMS, CONT “free and unlimited coinage of silver and gold” GOLD BUGS SILVERITES Who they were Bankers and businessmen Farmers and laborers What they wanted Gold standard – less money in circulation Bimetallism – more money in circulation Why Loans would be repaid in stable dollars Products would be sold at higher prices Effects DEFLATION *prices fall *value of the dollar increases *fewer people have money INFLATION *prices increase *value of the dollar decreases *more people have money

Election of 1896 McKinley won… William Jennings Bryan v. William McKinley Populist v. Republican McKinley won… End of the Populism movement …. But, those ideas carried on with the Progressives

Wizard of Oz (1900) Literature as political commentary With a partner de-code excerpts from the Wizard of Oz