1. #11 Ch 5 S 3
Details:
Read & Notes Ch 5 S 3
__________________________________
Examine the effect of political programs and activities of Populists.

2. The Foundation of the Populist Party
Chapter 5
Section 3
The Foundation of the Populist Party

3. California Academic Standards: 11.2.8
11.2 Students analyze the relationship among the rise of industrialization, large-scale rural-to-urban migration, and massive immigration from Southern and Eastern Europe.
.8 Examine the effect of political programs and activities of Populists.
Populists- the people’s party
Populists= farmers, and working class

4. Objectives:
Following lecture and reading of this section, students will be able to:
List the problems farmers faced and their cooperative efforts to solve them
Explain the rise and fall of the Populist Party

5. Farmers Unite to Address Common Problems
Late 1800s farmers trapped in vicious economic cycle
Price of crops falling
Too much supply causes demand and price to fall
Farmers bought more land to produce more product trying to break even
Banks foreclosed on land

6. Farmers Unite to Address Common Problems cont.
Railroads were price gouging farmers
They knew farmers had no choice
No other way to ship product to market
If farmers don’t pay their crops rotted
Farmers go into debt also because of deflation
Deflation is when the value of a dollar goes up.

8. Farmers Unite to Address Common Problems cont.
This is bad for people who borrowed money prior to value going up because you have to pay back the amount you borrowed even if the value changes.
A farmer borrows $500 to buy an acre, would normally make about $100 per year.
Value of money goes up, less money buys the same amount of goods.
People have less money, price of all goods fall.
Farmer only makes $70 per year still has to pay back $500 to bank that was borrowed.

9. Types of Money Tight $$$ Loose $$$ Fewer $$$ in circulation.
Goods are lower priced.
People make less money.
Gov’t only issues money that can be traded in for gold.
Gold Standard (Gold Bug).
Good for people who have a lot of money and are looking to invest or are going to borrow.
More $$$ in circulation.
Goods are higher priced.
People make more money.
Gov’t issues money that can be traded for silver or gold.
Bimetallism (Silverite)
Good for people who have already invested because natural inflation will allow them to pay back the money they borrowed easier.

10. Farmers Unite to Address Common Problems cont.$
Farmers react with a demand monetary reform
Farmers form organizations to address their common problems-The Grange; originally organized by Oliver Kelley

11. The Rise and Fall of Populism
The Populist Party provides a political power base for the farmers’ alliances
Proposed financial and governmental reforms
Considered progressive or reform because they worked for progress or change
The Populists asked for an increase in money supply, a graduated income tax, a federal loan program, some gov’t reforms, an eight hour workday, and restrictions on immigration

12. Populist Reason for Reform
Populist Reforms
Reform Wanted
Populist Reason for Reform
Increase in money supply
Graduated income tax
Federal loan program
Election of U.S. Senators by popular vote
Single terms for President and Vice-President
Secret ballot
8 hour workday
Restrictions on immigration
Easier to pay back loans with cheap money
Those who make less get to keep more of their money
Easier to get a loan from federal than private
Quicker change to politics
New leadership to be more responsive to farmers
End vote fraud
Keep them from losing workers to industry where they can make more by working more
Limiting the number of farms that exist

13. The Rise and Fall of Populism cont.
Farmers suffer increasingly as a general business collapse deepens into an economic depression
People were afraid to spend money, so the economic cycle was ruined.

14. Economic Cycle
Markets
Producers
Consumers
Workers

15. The Rise and Fall of Populism cont.
The metal backing paper currency becomes a major issue in the 1896 presidential campaign
The Populist Party and Democrats both back William Jennings Bryan, who favored a bimetal policy
Bryan gives the “Cross of Gold” speech.

16. The Rise and Fall of Populism cont.
In Christianity, the Savior is Jesus and his destiny was to die on the cross for the sins of people.
To be saved from hell, believing Jesus died for your sins is the only way to get to heaven.
What Bryan is expressing is that gold is not the only way to save the economy and keep it strong.
The economy and the people do not need to die with gold when there is an alternative (bimetallism).

17. William Jennings Bryan

18. Checking for Understanding
What 3 things are hindering farmers from making money?
Crop prices falling, banks foreclosing on land, RR are price gouging
What is the name of the reform party started by the farmers?
Populists
What did William Jennings Bryan compare in his “Cross of Gold” speech?
Jesus, as a savior and gold standard as being looked upon as a savior

19. Populism’s Legacy
Bryan is defeated in election of 1896 and the Populist Party collapses.
Populism did show, for the first time, the poor and downtrodden could organize and create change in the government.
Although the Populist Party collapsed with McKinley’s election as president, efforts to remedy both social and political problems continued into 20th century.

20. #11 Ch 5 S 3 Details: Read & Notes Ch 5 S 3 Margin ?s A-E (5)
Page 223 #s 2 & 3

21. #12 Correct Title and Heading
Details:
Listen & Follow Directions: Mr. Juell
Lecture ?s 1-3
What subject is this course?
What room is this class in?
What is the last name of the instructor?

22. #13 Ch 5 S 3 Study Guide Details:
Review/Re-read Ch 5 S 3
Study Guide ?s 1-6
What economic problems did many farmers face during the late 1800s?
Why did farmers favor “cheap money?”
How did farmers try to address their problems and grievances?
What reforms did the Populist Party want?
What were the causes and consequences of the Panic of 1893?
Why did the Populist movement collapse?