1. Farmers and the Populist Movement
Chapter 13 Section 3
Farmers and the Populist Movement

2. Closing the Frontier Land is decreasing
The need to protect land and wilderness arises
Yellowstone National Park created in 1872
By 1880 there was 19 million acres of government owned land
The Frontier was disappearing, the U.S. was no longer unique
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3. Problems for Farmers Prices for crops were falling
Mortgaged their homes to afford more land for more crops
Good land was little
Banks foreclosing mortgages that the farmers had made
RR charging excessively for crop transport

4. Changes in Economics
New currency of $500 million issued during the Civil War called greenbacks
More was printed than the government had in stock to back it up
They could not be exchanged for silver or gold and were not worth much
Government begins to take them out of circulation now the war is over
Now that this substitute is being removed the value of the money began to increase (if you borrowed $10 ten years ago you have to pay more than that $10 to fulfill the loan)

5. Organizations for Farmers
Oliver Hudson Kelley founds Patrons of Husbandry in 1867
The organization was strictly for farmers (Grange organization)
The Farmers Alliance also forms
Were created to educate people in town on government interest rates and control on RR and banks
Leads to an increased amount of organizations expanding from south to west

6. The Populism Party Considered the movement of the people
The goal was to pass reforms the lifted the burden of debt from farmers and other workers giving them a greater voice than the government

7. The Populism Party Platform
Increase the money supply 8 hr. work day
Graduated income tax Restrictions on immigration
Federal loan program The had some success in the 1892 elections
Direct election of U Senators
Vote by secret ballot
Single terms for President

8. The Panic of 1893 Farmers overextended in debt
RR construction had expanded faster than the market could handle
Government gold reserves were running very thin
Philly RR goes bankrupt  then the Erie RR  Northern pacific and then Union Pacific and the Santa Fe
People panicked and traded their bills for gold
Caused a collapse

9. Silver and Gold Political parties become divided over the money issue
Which metal would be the nations currency?
Bimetallism was a suggestion of having both silver and gold
“Gold Bugs” favored the gold standard, currency backed by gold (less of it favored by businessman)
There was more silver, if there is more silver to back the bills then more bills can be produced (farmers favored)

10. Election of 1896
William McKinley (Republican) vs. William Jennings Bryan (democrat)
WJB believes in free silver (unlimited coinage of silver) and delivers the “Cross of Gold Speech”
Speech said “you shall not crucify mankind upon a cross of gold”
McKinley wins election
Populism dies after the election and the economy begins to show improvement

11. Closing of the Frontier
1872, gov’t creates Yellowstone National Park
By 1880 there are 19 million gov’t owned acres, an attempt to preserve some wilderness
Frontier was what had made US unique and it was disappearing
Frederick Jackson Turner “The Significance of the Frontier of American History”….worried about closing of frontier, it played a major role in the development of the US