Populist Party Platform

Populist Movement Began with Farmers (debt) Crop prices falling= less profit for farmers Take out loans and fall further in debt Railroads overcharging farmers to ship goods Begin with local Granges Local farmers of a particular area (city or county) Grow to national organizations Known as Farmers Alliances Southern Alliance- white southern farmers Colored Farmers National Alliance- black farmers From there, become a national political party known as the Populists

#1- Farmers in Debt Low Crop Prices led to debt Deflation- not a lot of money available Led to high interest rates and banks would not loan money to farmers

Populist Solution Bi-Metalism- switch to a gold/silver standard Increase money supply and allow banks more opportunity to give loans

#2- Railroad Price Fixing Railroads overcharged farmers to store and ship crops= more debt Railroads gave industrialists rebates and reduce charges

Populist Solution Government Control Railroads and Telegraphs- keep prices fair and fixed Interstate Commerce Act- railroads must publish rates (ICC- govt. agency in control)

#3- State Appointed Senators State legislatures appoint Senators Industry and wealthy able to control government and appointments

Populist Solution Direct Election of Senators- people elect Senators Lead to 17th Amendment

#4- Class Differences Extreme income gap between rich and poor Farmers and factory workers in debt and facing financial problems

Populist Solution Graduated Income Tax Income tax- tax on earnings Graduated Income Tax- wealthy pay more (tax based on how much you earn)

#5- Corrupt Government Politicians overly influenced by wealthy business owners Credit Mobilier Scandal- Railroad owners bribe government officials for loans and money that was stolen and not used for railroad Former General/President Grant Administration

Populist Solution One Term President- presidents only serve one term (4 years) 22nd Amendment- limit President to 2 terms Initiative- people propose bills Referendum- people pass bills

#6- Working Conditions Workers Triangle Shirtwaist Fire Low Pay Long Hours Dangerous Conditions Triangle Shirtwaist Fire 146 sweatshop women killed due to conditions

Populist Solution 8 hour workday for workers Minimum Wage Laws will eventually be passed

1896 Presidential Election William Jennings Bryant nominated by Democratic and Populist Party -Cross of Gold Speech – supports the “free coinage of silver” (silverites) William McKinley nominated by Republicans - supports America remaining on the gold standards (goldbugs) McKinley wins the election and the Populist Party dies out, but its reform ideas are adopted by Republicans and Democrats during the Progressive Era (1890 – 1920)

1896 Election Results

Monopoly Monopoly- one company has complete control over an industry, no competition 2 ways to form a monopoly Vertical Integration- when one industry controls all parts of production for a product Example- Andrew Carnegie’s Steel Company Horizontal Integration- when one company controls the entire industry (eliminate competition by buying out competitors) Example- John Rockefeller’s Oil Company