1. How does the Populist Movement plan to rescue America?

2. $2.00 68¢ Farming Problems in Late 1800s Crop prices fall
-Corporations buying small farms and creating large single crop bonanza farms
2. Farmer’s debt increases
-Small farms borrowing to keep up with bonanza farms
68¢
3. Retirement of Greenbacks
-Regular money rises in value, farmers owe more than they borrowed

3. 4. Railroad shipping rates
-RR co’s have monopoly, high rates esp. for short hauls
Farmers organize the Grangers, Grange leader Oliver Hudson Kelley able to get state laws passed that regulate RR rates
Discuss: You and your partner are farmers, what could you do to improve the situation?

4. Munn v. Illinois RR Cos challenge Granger laws
Sup. Court rules in favor of Grangers saying states can regulate RR for public benefit
Problem: What if a train crosses from one state to another?
Solution: Congress passes Interstate Commerce Act, Fed govt will regulate RR between states

5. Populists (People’s Party)
New political party called Populists formed, goal is to help farmers & workers w/ drastic changes to govt
Sen. William Jennings Bryan made Populist mainstream and saw the cause as “righteous” (Cross of Gold)
Restore power to the people!

6. Populist Party Platform
1) Back money with gold OR silver (bilmetalism/free silver movement)
2) Senators directly elected by people (power to people)
3) Eight hour work day
4) Graduated tax – those who make more pay more

7. Populist gains in 1892 -10% of pop vote, 5% elec vote -5 senators
-3 governors ,500 state legislators

8. BANKRUPT COLLAPSED DEPRESSION Panic of 1893 Causes:
1)Over-expansion of railroads
2)Shrinking federal gold reserve
3) People panic & pull money out of banks
Results:
BANKRUPT
1)Six major railroads
COLLAPSED
2) 500 banks
3) 3 million jobs lost
DEPRESSION

9. Presidential Election 1896
-Republicans back gold & high tariffs Nominee: William McKinley
-Democrats back bimetallism & low tariffs Nominee: William Jennings Bryan
-Populists back bimetallism & no tariff Nominee: William Jennings Bryan but nominate a different VP candidate
Result: McKinley wins, Why? Dems & Populists split vote