HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 1 Chapter 8 POLITICS IN THE GILDED AGE Section 1: Political Machines Section 2: Restoring Honest Government Section 3: The Populist Movement

HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 2 Objectives: What factors led to economic hardships for farmers? What factors led to economic hardships for farmers? What did the farmers’ movements hope to achieve, and what weakened their efforts? What did the farmers’ movements hope to achieve, and what weakened their efforts? Why did farmers support money backed by silver? Why did farmers support money backed by silver? What issues did the Populist Party support? What issues did the Populist Party support? How did silver affect the economy and the 1896 presidential election? How did silver affect the economy and the 1896 presidential election? Section 3: The Populist Movement

HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 3 Economic hardships for farmers heavy debts heavy debts high freight and machinery costs high freight and machinery costs falling crop prices falling crop prices Section 3: The Populist Movement

HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 4 Farmer’s movements hoped to pressure states to regulate freight and grain-storage rates hoped to pressure states to regulate freight and grain-storage rates formed cooperatives formed cooperatives offered low-cost insurance offered low-cost insurance lobbied for graduated income tax lobbied for graduated income tax weakened by government limits on the power of ICC weakened by government limits on the power of ICC weakened by racial segregation weakened by racial segregation Section 3: The Populist Movement

HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 5 Money backed by silver Farmers supported money backed by silver because they wanted to increase the paper money supply. As long as only gold was allowed to back paper, the money supply was restricted by how much gold the treasury had. Section 3: The Populist Movement

HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 6 Populist Party issues graduated income tax graduated income tax bank regulation bank regulation government ownership of railroad and telegraph companies government ownership of railroad and telegraph companies free coinage of silver free coinage of silver immigration restrictions immigration restrictions shorter workday shorter workday voting reforms voting reforms Section 3: The Populist Movement

HOLT, RINEHART AND WINSTON The American Nation HOLT IN THE MODERN ERA 7 The effects of silver Silver was a central issue in the 1896 presidential campaign. Silver was a central issue in the 1896 presidential campaign. Populists supported Bryan because of his stand on silver. Populists supported Bryan because of his stand on silver. William McKinley won the election with the support of business leaders who opposed free silver. William McKinley won the election with the support of business leaders who opposed free silver. Section 3: The Populist Movement