The Populist Movement How does the Populist Movement plan to rescue America?

Farming Problems $ ¢ 1.Less printed money available in US – value of money rises Hurts farmers who borrowed a lot in past, have to payback when $ is worth more 2. Crop prices start falling

3. Railroad shipping rates RR co’s have monopoly, “gouging” the farmers, especially for short hauls Farmers decide to organize to fight these issues (Grangers)

Farmers’ Alliances After failure of Grange movement, farmers form new organization, Farmer’s Alliance FA sent lecturers from town to town Topics: banks, government, the railroad Great speakers like Mary Elizabeth Lease get message spread

Populism “ We seek to restore the government of the Republic to the hands of the ‘plain people’…We assert our purposes to be identical with the purposes of the National Constitution.” –People’s Party platform New political party out to help farmers & workers – want drastic changes to government, led by William Jennings Bryan Bryan saw his Populist cause as “righteous” (Cross of Gold)

1) Increase in money supply – raises prices farmers make more $ Populist Party Platform 2) Graduated income tax – those who make more pay more 3) Senators directly elected by people 4) President/VP serve one term 5) Eight hour work day 6) Paper money backed by gold OR silver (bimetalism)

Populist results in their 1st election -10% of popular vote-5 senators -3 governors-1,500 state leg’s

Panic of 1893 Causes: 1)Industry over-expansion, especially railroads 2)Shrinking federal gold reserve

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

-Republicans back gold standard Candidate: William McKinley -Democrats back bimetallism Candidate: William Jennings Bryan Presidential Election Populists back bimetallism Like William Jennings Bryan but not his VP, so they nominate another candidate Result: McKinley wins, Why? Dems & Populists split vote