How does the Populist Movement plan to rescue America?

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Presentation transcript:

How does the Populist Movement plan to rescue America?

$2.00 68¢ Farming Problems in Late 1800s Crop prices fall -Corporations buying small farms and creating large single crop bonanza farms 2. Farmer’s debt increases -Small farms borrowing to keep up with bonanza farms 68¢ 3. Retirement of Greenbacks -Regular money rises in value, farmers owe more than they borrowed

4. Railroad shipping rates -RR co’s have monopoly, high rates esp. for short hauls Farmers organize the Grangers, Grange leader Oliver Hudson Kelley able to get state laws passed that regulate RR rates Discuss: You and your partner are farmers, what could you do to improve the situation?

Munn v. Illinois RR Cos challenge new Granger laws Sup. Court rules in favor of Grangers saying states can regulate RR for public benefit Problem: What if a train crosses from one state to another? Solution: Congress passes Interstate Commerce Act, Fed govt creates ICC which will regulate RR between states

Populists (People’s Party) New political party called Populists formed, goal is to help farmers & workers w/ drastic changes to govt Sen. William Jennings Bryan made Populist mainstream and saw the cause as “righteous” (Cross of Gold) Restore power to the people!

Populist Party Platform 1) Back money with gold OR silver (bilmetalism/free silver movement) 2) Senators directly elected by people (power to people) 3) President/VP serve one term 4) Eight hour work day 5) Graduated tax – those who make more pay more

Populist results in their 1st election -10% of pop vote, 5% elec vote -5 senators -3 governors -1,500 state legislators

Panic of 1893 Causes: 1)Over-expansion of railroads (some not needed) 2)Shrinking federal gold reserve 3) Everyone tries to get their money out of banks

BANKRUPT COLLAPSED LOST Depression of 1893: - Panic of 1893, leads to a depression Results: BANKRUPT 1)Six major railroads 2) 500 banks COLLAPSED 3) 3 million jobs LOST

Presidential Election 1896 -Republicans back gold & high tariffs Nominee: William McKinley -Democrats back bimetallism & low tariffs Nominee: William Jennings Bryan -Populists back bimetallism & no tariff Nominee: William Jennings Bryan but nominate a different VP candidate Result: McKinley wins, Why? Dems & Populists split vote