Populism People’s party founded in 1892. Late 1800s= Trouble for farmers High debt High debt Purchase of expensive equipment Purchase of expensive equipment.

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Presentation transcript:

Populism People’s party founded in 1892

Late 1800s= Trouble for farmers High debt High debt Purchase of expensive equipment Purchase of expensive equipment Crop prices down Crop prices down Competition overseas Competition overseas Little government help Little government help

Tariffs Helped by eliminating foreign competition Helped by eliminating foreign competition Hurt by: Hurt by: Higher prices for manufactured goods Higher prices for manufactured goods Foreigners couldn’t purchase American crops Foreigners couldn’t purchase American crops

Silver Nation went to gold standard- upsets western silver miners and farmers Nation went to gold standard- upsets western silver miners and farmers Sherman Silver Act of increases amount of silver used by government Sherman Silver Act of increases amount of silver used by government

Value of money- Government controls money supply (Federal Reserve) Value of money- Government controls money supply (Federal Reserve) Inflation=more money available (higher prices charged/low interest rates) Inflation=more money available (higher prices charged/low interest rates) Deflation=less money available (lower prices/higher interest rates) Deflation=less money available (lower prices/higher interest rates) Monetary policy-government plan for makeup of money supply Monetary policy-government plan for makeup of money supply

End of Part I End of Part I

Farmers begin to organize Grange- farmer organization; form cooperatives (allowed farmers to purchase large quantites of goods) Grange- farmer organization; form cooperatives (allowed farmers to purchase large quantites of goods) Pressure government to help farmers Pressure government to help farmers Control railroads (unfair rates) Control railroads (unfair rates)

Interstate Commerce Act of 1887 Required railroad rates be in proportion to distance travelled Required railroad rates be in proportion to distance travelled Outlawed discount rates Outlawed discount rates Interstate Commerce Commission- enforce transportation law Interstate Commerce Commission- enforce transportation law

Populist goals Increased circulation of money Increased circulation of money Mint silver Mint silver Progressive Income Tax- Progressive Income Tax- Higher tax on wealthier Higher tax on wealthier Government ownership of communication and transportation systems Government ownership of communication and transportation systems 8 hour day (why??) 8 hour day (why??) Oppose Pinkertons Oppose Pinkertons

Nebraska, 1890

(p 192)

Elections 1892-Weaver Populist candidate 1892-Weaver Populist candidate Democrat William Jennings Bryan “Cross of Gold” speech Democrat William Jennings Bryan “Cross of Gold” speech Grover Cleveland victory hurts populists Grover Cleveland victory hurts populists

Populists never achieve major political victories, but their impact on reform is far reaching!!! Populists never achieve major political victories, but their impact on reform is far reaching!!!