The Populist Movement. A.) Money Issues: Problem: Civil War issue “Greenbacks” (Greenbacks worth less than hard money) Solution: Government takes them.

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Presentation transcript:

The Populist Movement

A.) Money Issues: Problem: Civil War issue “Greenbacks” (Greenbacks worth less than hard money) Solution: Government takes them out of circulation! Outcome: 1. Farmers lose land and cant buy more! 2. Money becomes a national issue I.) Issues

B. Issue with the Railroads Cause: 1. Lack of competition for railroads 2. Secret agreements = railroads control grain prices Effect: 1. Farmers pay high prices to transport goods 2. Farmers mortgage farms & pay high interest Outcome: 1. Calls for Reform!

II.) Reform Movements A.Granger Movement- organization of farmers to provide a social outlet & educational opportunities for farm families B. Farmers’ Alliance- organization of farmers with the goals to: - educate about lower interest rates - urge govt. control of banks & railroads

C.Populism- political movement seeking that people have a greater say in govt. (advocated for farmers & workers) Goals: 1. Economic reform: -increase money supply -graduated income tax -federal loan program 2. Government reform: - senators elected by popular vote -single terms for president & vice -secret ballot to end vote fraud 3. Social reform : - eight hour work day -restrictions on immigration

III.) The Populist Party & Issues A.Election of Populist candidate wins 10% of vote B. Panic of economic recession Cause: - Railroads go bankrupt - Stock Market prices fall - Trade of currency for gold - Silver price falls Effect:-15,000 businesses close banks collapse - wages, investments, prices fall - 3 million lost jobs

Question: Gold or Silver? 2. Gold Standard- monetary system in which dollars are backed solely by gold (Gold Bugs) 1. Bimetallism- monetary system in which citizens get gold or silver in exchange for paper currency (Silverites)

C. The Election of Outcome: -McKinley wins election - Populist Party collapses Legacy: - People could Organize & make Reforms - Big Business Rules!!! Republican candidate William McKinley of Ohio (Gold Bug) Democratic candidate William Jennings Bryan (Sliverite) Populist candidate Thomas Watson