1. Farmers, Railroads, and the Populist Movement
Bimetallism
The Cross of Gold

3. Cycle of Debt Farmers borrowed money to buy machines
More crop available
Lowers cost
Buy bigger farms to produce more
Go into deeper debt

4. Railroad Abuses Took advantage of farmers:
Charged enormous amounts for short hauls where farmers had no alternatives

6. Greenbacks
Money used during Civil War taken out of circulation making money worth more!
Couldn’t be exchanged for silver or gold

7. Political Action
The Grange: Social outlet and educational forum for isolated farm families
Farmers Alliances: Lecturers educated farmers on topics of loans and interest rates

8. Populism-The Movement of the People
Farmers wanted political action!
Increased money supply
8 hr workday
Single term election
Secret Ballot

9. Silver or Gold? Biggest issue = gold or silver for monetary system
Silverites
Favored bimetallism – gold or silver in exchange for $
Silver more available than gold= more money to stimulate US economy
Goldbugs
Favored gold standard – backing dollars with gold only

10. William Jennings Bryan
“Cross of Gold” speech
Populists happy to join with Democrats but frustrated at giving up their identity
Lost to William McKinley