1. Farmers and the Populist Movement
#34 Chapter 5 Section 3
Farmers and the Populist Movement
OBJECTIVE: Understand how farmers organized and fought to improve their conditions.

2. I. Farmers Unite to Address Common Problems
Economic Distress
Prices of crops falls dramatically due to lack of consumer demand.
1870s, debtors push government to put more money in circulation.

3. Problems with the Railroads
Lack of competition lets railroads overcharge to transport grain.
Farms mortgaged to buy supplies; suppliers charge high interest.

4. The Farmers’ Alliances
Farmers’ Alliances--- groups of farmers and sympathizers
Lectures on interest rates, government control of railroads & banks.

5. II. The Rise and Fall of Populism
The Populist Party Platform
Populism --- movement of the people; Populist Party wants reforms:
Economic: increase money supply, graduated income tax, federal loans.
Political: Senate elected by popular vote; secret ballot; 8-hour day, and a single term for Presidents.
Democratic Party eventually adopts platform.

6. The Panic of 1893
Railroads expand faster than markets; some go bankrupt.
Government’s gold supply depleted.
Businesses, banks collapse
Panic becomes depression.

7. Silver or Gold?
Bimetallism- a monetary system in which the government would give citizens either gold or silver in exchange for paper currency or checks.
Republicans: Northeast business owners, bankers = Gold Bugs (Gold Only)
Democrats: Southern, Western farmers, laborers = Silverites (Gold and Silver)

8. 1896, Republicans commit to gold, select William McKinley.
Democrats favor bimetallism.
Democrats chose William Jennings Bryan. Populist endorse Bryan for President.

9. The End of Populism
McKinley gets East, Industrial Midwest support; Bryan gets South, farm Midwest support.
William McKinley elected President. Populism collapses; leaves legacy:
The powerless can organize, have political impact.
Agenda of reforms enacted in 20th century.

10. Short Answer Question:
Closing
Short Answer Question:
Explain the rise and fall of the Populist Party in 2-3 sentences