Populism

Problems facing Farmers- Prices  Prices for the farmers goods fall, but the cost of transportation, livestock, machinery and seed continued to rise – leading to mounting debt for the farmers, many had to mortgage their farms and become tenant farmers on land they used to own

Problems Facing Farmers- Big Business  Monopoly- A business who has little to no competition in their field, and can therefore set whatever prices for their goods that they want  Railroads- as monopolies continued to raise their prices for transportation, despite falling prices of goods  Banks- little regulation of the banks led to them setting high interest rates on loans to farmers  Monopoly- A business who has little to no competition in their field, and can therefore set whatever prices for their goods that they want  Railroads- as monopolies continued to raise their prices for transportation, despite falling prices of goods  Banks- little regulation of the banks led to them setting high interest rates on loans to farmers

Problems Facing Farmers- Representation  Most of the nations leaders were coming from an industrial background, and farmers felt unrepresented in government

Farmers Organize  The Grange (1867-late 1870s)  Provided education on new techniques  Called for regulation of railroad and grain rates  Farmers’ Alliance  Formed co-ops to collectively sell crops  Called on government to provide farmers with low interest loans  The Colored Farmer’s Alliance  Will lead to the Populist Party  The Grange (1867-late 1870s)  Provided education on new techniques  Called for regulation of railroad and grain rates  Farmers’ Alliance  Formed co-ops to collectively sell crops  Called on government to provide farmers with low interest loans  The Colored Farmer’s Alliance  Will lead to the Populist Party

Populism  In 1890 the members of the Farmers’ Alliance met in Ocala, FL and issued the Ocala Demands  Called for development of the sub treasury plan (government set up warehouses and low interest loans)  Free coinage of silver  End to protective tariffs and national banks  Tighter regulations of RRs  Direct election of senators  In 1890 the members of the Farmers’ Alliance met in Ocala, FL and issued the Ocala Demands  Called for development of the sub treasury plan (government set up warehouses and low interest loans)  Free coinage of silver  End to protective tariffs and national banks  Tighter regulations of RRs  Direct election of senators

Populism  Republicans in Congress pushed through the Sherman Silver Purchase Act of 1890, which allowed the US to purchase 4.5M ounces of silver/month  They did this to keep people from voting for Populists  The Democrats adopted several pro-Alliance policies, which they would later decline to follow through with  Republicans in Congress pushed through the Sherman Silver Purchase Act of 1890, which allowed the US to purchase 4.5M ounces of silver/month  They did this to keep people from voting for Populists  The Democrats adopted several pro-Alliance policies, which they would later decline to follow through with

Populism  Due to the failure of the Democrat-pro-Alliance measures, many Southern Democrats turned to the Peoples’ Party  In the 1892 election, the Peoples’ Party nominated James Weaver who ran on the platform of increasing money supply and a graduated income tax  While Weaver did well for a small party candidate, Cleveland still won the election (note: Cleveland was president 4 years earlier)  Due to the failure of the Democrat-pro-Alliance measures, many Southern Democrats turned to the Peoples’ Party  In the 1892 election, the Peoples’ Party nominated James Weaver who ran on the platform of increasing money supply and a graduated income tax  While Weaver did well for a small party candidate, Cleveland still won the election (note: Cleveland was president 4 years earlier)

Populism  The Panic of 1893 began due to RRs going bankrupt, bank’s closing and a stock market crash  Cleveland had to summon Congress into a special session to repeal the Sherman Silver Purchase Act so the country’s gold supply would not be depleted  Some Democrats, including Cleveland, felt the economy should be based on gold (they were called “goldbugs”)  Others believed it should be based on an unlimited quantity of silver (they were called “silverites”)  The Panic of 1893 began due to RRs going bankrupt, bank’s closing and a stock market crash  Cleveland had to summon Congress into a special session to repeal the Sherman Silver Purchase Act so the country’s gold supply would not be depleted  Some Democrats, including Cleveland, felt the economy should be based on gold (they were called “goldbugs”)  Others believed it should be based on an unlimited quantity of silver (they were called “silverites”)

Populism  The election of 1896 was the beginning of the end for the Populist movement:  The Populists felt they could get most Democrats votes if they slammed Cleveland during the campaign  Their plan failed when the Democrats put up William Jennings Bryan (a strong supporter of silver, the Populists’ main platform)  The Populists decided to support Bryan rather than split the silverites  The election of 1896 was the beginning of the end for the Populist movement:  The Populists felt they could get most Democrats votes if they slammed Cleveland during the campaign  Their plan failed when the Democrats put up William Jennings Bryan (a strong supporter of silver, the Populists’ main platform)  The Populists decided to support Bryan rather than split the silverites

Populism  The Republicans put up William McKinley who launched the “front porch campaign” where he stayed in Ohio and met with people while the Republicans did campaigning elsewhere for him  His slogan was a “full dinner pail” which meant more to urban workers than the argument over silver or gold  In the end, McKinley won a decisive victory over Bryan  The Republicans put up William McKinley who launched the “front porch campaign” where he stayed in Ohio and met with people while the Republicans did campaigning elsewhere for him  His slogan was a “full dinner pail” which meant more to urban workers than the argument over silver or gold  In the end, McKinley won a decisive victory over Bryan

Populism  After McKinley took office and the Gold Standard Act was passed which made the US officially adopt a gold-based currency, the Populist movement lost momentum  It would take another century for some of their reforms to be adopted including the graduated income tax and governmental regulations of the economy  After McKinley took office and the Gold Standard Act was passed which made the US officially adopt a gold-based currency, the Populist movement lost momentum  It would take another century for some of their reforms to be adopted including the graduated income tax and governmental regulations of the economy