1. Populism
Changes on the Farm

2. Why had farming become unprofitable during this period?
Why did farmers support bimetalism?

3. 3. What economic reforms did the People’s Party want. 4
3. What economic reforms did the People’s Party want? 4. What political reforms did the part want?

4. 5. What factions did Bryan & the Populists see as opposing forces in the Presidential Election of 1896? 6. In what ways did the results of the 1896 election confirm this view?

5. Farmers Farmers have real problems
Debt- they barrowed money for new machines but they don’t make enough to pay loans back
Drought and weather conditions ruin crops
Crop prices fall because there are so many farmers = more crops = low prices

6. Farm Friendly Legislation
Texas seed bill- helps farmers in tough economic times
Interstate commerce Act- Regulates trade between states. (forces railways to act in a more uniform way) Farmers feel they are ripping off the public

7. New groups
Farmers begin to form new groups to fight for new laws and find solutions to their problems.

8. The Grange Grange a.k.a. Patrons of Husbandry Oliver H. Kelley
Became a political organization to fight the unfair treatment of farmers by railroads.

9. Farmers’ Alliance
Members were farmers and those that sympathized with the farmers cause.
Sent lecturers to educate people about the issues
Mary Elizabeth Lease
“Raise Less Corn and More Hell”

10. Different Groups Representing Farmers’ Interests
1867: The Patrons of Husbandry (The Grange)
1880s: Farmers’ Alliance and Colored Farmers’ National Alliance
1892: Birth of the Populist, or People’s Party

11. The Populist Movement Populism – the movement of the people
Populist Party (a.k.a. People’s Party) was founded in 1892
Members
Farmers
Workers
Those who sympathize with worker’s and farmer’s causes
Was not segregated!!!!!!!!!!!!!!

12. Populist Platform Economic Reform 1. Increase in money supply
2. Graduated Income Tax
3. Federal Loan Program
Governmental Reform
4. Direct Election of U.S. Senators
5. Single Terms for President and V.P.
6. Secret Ballot
Labor Reform
7. Eight hour work day
8. Limits on Immigration

13. 1892 Presidential Election: Populist Candidate won over a million votes!

14. Panic of 1893 Country falls into a depression 500 banks close
18% of workforce unemployed
There is about $23 in circulation per American
This leads to a big question- paper, gold or silver?

15. Economic Crisis
Greenbacks – Paper money issued during the Civil War that could not be exchanged for hard currency (silver or gold).
Government began to retire greenbacks which caused the value of the money in circulation to increase.
Significance: Farmers were paying back their loans with money that was worth more than the dollars they had borrowed.

16. Competing Monetary Philosophies
Gold standard- money is backed by gold in the federal reserve. Causes deflation so each dollar is worth more but there are fewer dollars.
Favored by businesses and the rich
Free silver- favored coining as much silver money as possible causes inflation so each dollar is worth less but there are more dollars.
Favored by farmers and poorer Americans
(populists)

17. Silver or Gold
Central issue of the Election of 1896 was which metal would be the basis of the nation’s monetary system.
Gold Bugs
Silverites
Who
Bankers and Business Owners
Farmers & Laborers
Party
Republican
Democrat & Populist
What
Gold standard
Less money in circulation
Bimetallism
More money in circulation
Why
Loans would be repaid with stable money
Products would be sold at higher prices

18. Election of 1896 William McKinley – Republican
William Jennings Bryan – Democrat
Cross of Gold Speech
Bryan selected as the Populist Party Candidate as well.
McKinley’s election caused the collapse of the Populism Party.

19. 1896 Presidential Election: Bryan loses but carries most of the South and West

20. Cross of Gold

21. Farming Becomes a Business

22. The Wizard of OZ