Populism and the Silver and Gold Standard Unit 4.

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Presentation transcript:

Populism and the Silver and Gold Standard Unit 4

Words to Know… Populist Party: a group in the 1890s who wanted a policy that would raise crop prices free silver: a policy in which there is unlimited mining of silver gold standard: a policy in which the government backs every dollar with a certain amount of gold

The Gold Standard before the Fed, the government used the gold standard to control money ▫ you could go to the bank and exchange $1 for a certain amount of gold

Formation of the Populist Party farmers were creating a large supply of food but demand was down ▫ prices dropped due to overproduction ▫ also spending more on trains and farm equipment

Formation of the Populist Party different farm groups created the Populist Party ▫ believed in free silver which would lead to inflation and raise prices again

Election of 1896 William Jennings Bryan ▫ free silver ▫ Democrat William McKinley ▫ gold standard ▫ Republican McKinley wins